Birinyi Associates Inc buys $2,767,874 stake in B&G Foods (BGS)

B&G Foods (BGS) : Birinyi Associates Inc scooped up 15,767 additional shares in B&G Foods during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 56,917 shares of B&G Foods which is valued at $2,767,874.B&G Foods makes up approximately 1.14% of Birinyi Associates Inc’s portfolio.

Other Hedge Funds, Including , Bahl Gaynor Inc boosted its stake in BGS in the latest quarter, The investment management firm added 2,196 additional shares and now holds a total of 34,398 shares of B&G Foods which is valued at $1,672,775. B&G Foods makes up approx 0.02% of Bahl Gaynor Inc’s portfolio.Teacher Retirement System Of Texas boosted its stake in BGS in the latest quarter, The investment management firm added 1,666 additional shares and now holds a total of 8,743 shares of B&G Foods which is valued at $446,680.Stephens Inc Ar boosted its stake in BGS in the latest quarter, The investment management firm added 998 additional shares and now holds a total of 11,954 shares of B&G Foods which is valued at $610,491. B&G Foods makes up approx 0.03% of Stephens Inc Ar’s portfolio.Cambridge Investment Research Advisors boosted its stake in BGS in the latest quarter, The investment management firm added 6,829 additional shares and now holds a total of 24,146 shares of B&G Foods which is valued at $1,233,136. B&G Foods makes up approx 0.03% of Cambridge Investment Research Advisors’s portfolio. Quadrant Capital Group sold out all of its stake in BGS during the most recent quarter. The investment firm sold 41 shares of BGS which is valued $2,115.

B&G Foods opened for trading at $48.27 and hit $48.326 on the upside on Friday, eventually ending the session at $48.23, with a gain of 0.17% or 0.08 points. The heightened volatility saw the trading volume jump to 6,71,608 shares. Company has a market cap of $3,022 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 .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 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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