Wellington Shields adds B&G Foods (BGS) to its portfolio

B&G Foods (BGS) : Wellington Shields added new position in B&G Foods during the most recent quarter end. The investment management firm now holds 13,780 shares of B&G Foods which is valued at $670,121 , the company said in a statement filed on Aug 15, 2016 with the SEC.B&G Foods makes up approximately 0.39% of Wellington Shields’s portfolio.

Other Hedge Funds, Including , Alyeska Investment Group sold out all of its stake in BGS during the most recent quarter. The investment firm sold 480,000 shares of BGS which is valued $23,342,400.Raymond James Associates boosted its stake in BGS in the latest quarter, The investment management firm added 34,337 additional shares and now holds a total of 142,918 shares of B&G Foods which is valued at $6,950,102. B&G Foods makes up approx 0.02% of Raymond James Associates’s portfolio.Edge Asset Management Inc boosted its stake in BGS in the latest quarter, The investment management firm added 160,505 additional shares and now holds a total of 1,342,985 shares of B&G Foods which is valued at $68,613,104. B&G Foods makes up approx 0.59% of Edge Asset Management Inc’s portfolio. Hudock Capital Group added BGS to its portfolio by purchasing 30 company shares during the most recent quarter which is valued at $1,509.New York State Teachers Retirement System boosted its stake in BGS in the latest quarter, The investment management firm added 6,600 additional shares and now holds a total of 70,862 shares of B&G Foods which is valued at $3,357,442. B&G Foods makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.

B&G Foods opened for trading at $47.38 and hit $48.13 on the upside on Thursday, eventually ending the session at $47.98, with a gain of 1.05% or 0.5 points. The heightened volatility saw the trading volume jump to 6,53,355 shares. Company has a market cap of $3,006 M.

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.

Investors should note that on Aug 2, 2016, B&G Foods announced a cash dividend of $0.4200. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 2016.

Many Wall Street Analysts have commented on B&G Foods. 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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