Lucas Capital Management Lowers stake in B&G Foods (BGS)

B&G Foods (BGS) : Lucas Capital Management reduced its stake in B&G Foods by 3.75% during the most recent quarter end. The investment management company now holds a total of 132,162 shares of B&G Foods which is valued at $4,315,089 after selling 5,150 shares in B&G Foods , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.B&G Foods makes up approximately 2.95% of Lucas Capital Management’s portfolio.

B&G Foods opened for trading at $32.16 and hit $32.66 on the upside on Friday, eventually ending the session at $32.65, with a gain of 1.49% or 0.48 points. The heightened volatility saw the trading volume jump to 6,20,244 shares. Company has a market cap of $1,895 M.

Other Hedge Funds, Including , Butensky Cohen Financial Security Inc sold out all of its stake in BGS during the most recent quarter. The investment firm sold 1,000 shares of BGS which is valued $32,650.Grassi Investment Management reduced its stake in BGS by selling 4,725 shares or 5.85% in the most recent quarter. The Hedge Fund company now holds 76,040 shares of BGS which is valued at $2,472,060. B&G Foods makes up approx 0.48% of Grassi Investment Management’s portfolio. Proficio Capital Partners added BGS to its portfolio by purchasing 527 company shares during the most recent quarter which is valued at $17,180. B&G Foods makes up approx 0.01% of Proficio Capital Partners’s portfolio.

On the company’s financial health, B&G Foods reported $0.43 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $0.47. The company had revenue of $342.30 million for the quarter, compared to analysts expectations of $334.92 million. The company’s revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

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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