What to Expect from B&G Foods's Upcoming 3Q15 Earnings Results
B&G Foods
On October 27, 2015, B&G Foods (BGS) will report its third quarter results for fiscal 2015. The company is part of the processed and packaged food industry, which manufactures, sells, and distributes shelf-stable food and household products. Its peers in the industry include The J.M. Smucker Company (SJM), General Mills (GIS), and Bunge (BG). Bunge will also report its third quarter results two days after B&G Foods. The J.M. Smucker Company and General Mills will report their second quarter results for fiscal 2016 on November 19 and December 15, respectively.
Stock price performance
B&G Foods trades on the NYSE (New York Stock Exchange) under the ticker BGS. Its shares rose by 1.2% following its 2Q15 earnings release and continued to trade in the range of $28–$30.
On September 3, B&G Foods announced a definitive agreement to acquire the iconic frozen and canned vegetable brands Green Giant and Le Sueur from General Mills. This announcement had a positive effect on the stock, which has risen 20% since then. It rose by 12% closing at $34 on the day of the announcement.
It has been trading in the range of $34–$37 and closed at $37.22 on October 19. The J.M. Smucker Company, General Mills, and Bunge also trade on the NYSE. They closed at $118.77, $56.68, and $77.81, respectively, on October 19. The Wisdom Tree Small Cap Dividend ETF (DES) and the Global X Super Dividend US ETF (DIV) invest 0.61% and 3.1%, respectively, of their portfolios in BGS.
Company overview
Through its subsidiaries, B&G Foods manufactures, sells, and distributes shelf-stable food and household products in the United States, Canada, and Puerto Rico. Its portfolio includes a wide range of products such as hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, and seasonings.
The company markets its products under various brands, including Ac’cent, B&G Condiments, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, and Canoleo. It also sells and distributes household products under the Static Guard and Kleen Guard brand names. The company was formerly known as B&G Foods Holdings and changed its name to B&G Foods in October 2004. It has its headquarters in Parsippany, New Jersey.
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