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B&G Foods, Inc. (BGS) manufactures, sells, and distributes shelf-stable food and household products in the United States, Canada, and Puerto Rico.
Its portfolio of 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, Greek yogurt coated granola bars and bites, and other specialty products.
The company markets its products under various brands, including Accent, B&G, B&M, Bakers Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Carys, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emerils, Grandmas Molasses, JJ Flats, Joan of Arc, Las Palmas, MacDonalds, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirates Booty, Polaner, Red Devil, Regina, Rickland Orchards, Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar Twin, Trappeys, TrueNorth, Underwood, Vermont Maid, and Wrights.
It also sells and distributes household products under the Static Guard and Kleen Guard brand names. B&G Foods offers its products directly, as well as via a network of independent brokers and distributors to supermarket chains, food service outlets, mass merchants, warehouse clubs, non-food outlets, and specialty distributors.
Shares have formed a bullish "flag" after the firm announced that it will purchase the Green Giant and Le Sueur businesses in the U.S., Canada and other markets. The Green Giant buyout will help B&G Foods enter the frozen food business, which according to the company, has tremendous growth potential. It expects the acquisition to be immediately accretive to earnings and free cash flow. B&G Foods expects the Green Giant and Le Sueur brands to generate net sales of about $550 million on an annual basis, following a 6 to 12-month transition period.
Higher share prices are expected for this stock.
52-Weeks Trading Range: $27.03 - $37.53
Entry Point: $37.00
Stop Loss: $35.00
Target Price: $40.50
BGS closed at $37.00 after its 30-day expired.
