Savoir Faire Capital Management L.P. Sells 234,175 Shares of B&G Foods, Inc. (NYSE:BGS)

Savoir Faire Capital Management L.P. reduced its stake in B&G Foods, Inc. (NYSE:BGS - Free Report) by 69.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,301 shares of the company's stock after selling 234,175 shares during the quarter. Savoir Faire Capital Management L.P. owned approximately 0.13% of B&G Foods worth $696,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in B&G Foods by 28.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock worth $23,106,000 after acquiring an additional 744,898 shares in the last quarter. American Century Companies Inc. lifted its stake in B&G Foods by 13.7% during the 4th quarter. American Century Companies Inc. now owns 2,226,706 shares of the company's stock worth $15,342,000 after acquiring an additional 267,455 shares in the last quarter. Geode Capital Management LLC lifted its stake in B&G Foods by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company's stock worth $12,468,000 after acquiring an additional 5,646 shares in the last quarter. Invesco Ltd. lifted its stake in B&G Foods by 55.7% during the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock worth $7,805,000 after acquiring an additional 405,033 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in B&G Foods by 10.0% during the 4th quarter. Northern Trust Corp now owns 872,186 shares of the company's stock worth $6,009,000 after acquiring an additional 79,226 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

BGS traded down $0.06 during trading hours on Friday, hitting $4.07. The company's stock had a trading volume of 2,594,714 shares, compared to its average volume of 1,892,340. B&G Foods, Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $9.44. The company has a current ratio of 3.32, a quick ratio of 1.07 and a debt-to-equity ratio of 3.90. The firm has a market capitalization of $324.79 million, a PE ratio of -1.53 and a beta of 0.54. The company has a 50-day simple moving average of $4.29 and a 200 day simple moving average of $5.77.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The company had revenue of $425.40 million for the quarter, compared to the consensus estimate of $459.40 million. B&G Foods had a positive return on equity of 7.00% and a negative net margin of 11.16%. The business's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. As a group, sell-side analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 annualized dividend and a dividend yield of 18.67%. B&G Foods's dividend payout ratio is -28.57%.

Wall Street Analyst Weigh In

BGS has been the topic of a number of analyst reports. Barclays reduced their price target on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Piper Sandler dropped their price objective on B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.10.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.