Bridgecreek Investment Management Lowers stake in B&G Foods (BGS)

B&G Foods (BGS) : Bridgecreek Investment Management reduced its stake in B&G Foods by 3.08% during the most recent quarter end. The investment management company now holds a total of 195,400 shares of B&G Foods which is valued at $8.5 Million after selling 6,205 shares in B&G Foods , the firm said in a disclosure report filed with the SEC on May 13, 2016.B&G Foods makes up approximately 2.73% of Bridgecreek Investment Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities added BGS to its portfolio by purchasing 16,244 company shares during the most recent quarter which is valued at $706,614. B&G Foods makes up approx 0.01% of Sg Americas Securities’s portfolio.Ridgeworth Capital Management boosted its stake in BGS in the latest quarter, The investment management firm added 206,180 additional shares and now holds a total of 1,733,235 shares of B&G Foods which is valued at $75.4 Million. B&G Foods makes up approx 0.67% of Ridgeworth Capital Management’s portfolio.Bahl Gaynor Inc boosted its stake in BGS in the latest quarter, The investment management firm added 110 additional shares and now holds a total of 32,202 shares of B&G Foods which is valued at $1.4 Million. B&G Foods makes up approx 0.02% of Bahl Gaynor Inc’s portfolio.

B&G Foods closed down -0.29 points or -0.67% at $42.88 with 3,91,083 shares getting traded on Wednesday. Post opening the session at $43.26, the shares hit an intraday low of $42.795 and an intraday high of $43.42 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, B&G Foods reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.51. The company had revenue of $353.00 million for the quarter, compared to analysts expectations of $357.94 million. The company’s revenue was up 62.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on B&G Foods. Company shares were Downgraded by DA Davidson on May 13, 2016 to ” Neutral”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .B&G Foods was Downgraded by Buckingham Research to ” Neutral” on May 10, 2016. Company shares were Upgraded by DA Davidson on Apr 29, 2016 to ” Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $36 .

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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