Torch Wealth Management Lowers stake in B&G Foods (BGS)

B&G Foods (BGS) : Torch Wealth Management reduced its stake in B&G Foods by 0.3% during the most recent quarter end. The investment management company now holds a total of 39,455 shares of B&G Foods which is valued at $1,901,336 after selling 120 shares in B&G Foods , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.B&G Foods makes up approximately 1.40% of Torch Wealth Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in BGS in the latest quarter, The investment management firm added 1,075 additional shares and now holds a total of 4,592 shares of B&G Foods which is valued at $221,288. B&G Foods makes up approx 0.01% of Msi Financial Services Inc’s portfolio. Algert Global sold out all of its stake in BGS during the most recent quarter. The investment firm sold 8,310 shares of BGS which is valued $397,135.Legal General Group Plc boosted its stake in BGS in the latest quarter, The investment management firm added 47,268 additional shares and now holds a total of 60,718 shares of B&G Foods which is valued at $2,901,713.Ct Mason boosted its stake in BGS in the latest quarter, The investment management firm added 3,299 additional shares and now holds a total of 133,374 shares of B&G Foods which is valued at $6,435,296. B&G Foods makes up approx 2.85% of Ct Mason’s portfolio.

B&G Foods closed down -0.54 points or -1.12% at $47.79 with 3,63,473 shares getting traded on Tuesday. Post opening the session at $48.47, the shares hit an intraday low of $47.52 and an intraday high of $48.4788 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, B&G Foods reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.46. The company had revenue of $306.40 million for the quarter, compared to analysts expectations of $316.03 million. The company’s revenue was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on B&G Foods. Company shares were Reiterated by RBC Capital Mkts on Sep 23, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $52 .DA Davidson Downgraded B&G Foods on Aug 9, 2016 to ” Neutral”, Price Target of the shares are set at $52.Company shares were Upgraded by DA Davidson on Jul 29, 2016 to ” Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $47 .

B&G Foods Inc. (B&G Foods) is a holding company that manufactures sells and distributes a range of shelf-stable food and household products across the United States Canada and Puerto Rico. Its products include hot cereals fruit spreads canned meats and beans bagel chips spices seasonings hot sauces wine vinegar maple syrup molasses salad dressings Mexican-style sauces dry soups taco shells and kits salsas pickles peppers tomato-based products puffed corn and rice snacks nut clusters and other specialty products. The Company’s products are marketed under a range of brands including Ac’cent B&G B&M Baker’s Joy Bear Creek Country Kitchens Brer Rabbit Canoleo Cary’s Cream of Rice Cream of Wheat Devonsheer Don Pepino Emeril’s Grandma’s Molasses JJ Flats Joan of Arc Las Palmas MacDonald’s Maple Grove Farms of Vermont and Molly McButter among others.

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