Is B&G Foods, Inc. (BGS) Going to Burn These Hedge Funds?

Consequently, key hedge funds have been driving this bullishness. Gotham Asset Management assembled the most valuable position in B&G Foods, Inc. (NYSE:BGS) which had $17.5 million invested in the company at the end of the quarter. Alexander Mitchell’s Scopus Asset Management also made a $11.1 million investment in the stock during the quarter. The other funds with brand new BGS positions are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Charles Clough’s Clough Capital Partners, and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as B&G Foods, Inc. (NYSE:BGS) but similarly valued. We will take a look at PS Business Parks Inc (NYSE:PSB), National Health Investors Inc (NYSE:NHI), Fresh Del Monte Produce Inc (NYSE:FDP), and Worthington Industries, Inc. (NYSE:WOR). This group of stocks’ market valuations are closest to BGS’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PSB 7 90394 0
NHI 10 68873 0
FDP 18 124840 0
WOR 16 152481 -2

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $109 million. That figure was $259 million in BGS’s case. Fresh Del Monte Produce Inc (NYSE:FDP) is the most popular stock in this table. On the other hand PS Business Parks Inc (NYSE:PSB) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks B&G Foods, Inc. (NYSE:BGS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None