B&G Foods, Inc. (BGS) Bundle
A Brief History of B&G Foods, Inc. (BGS)
Foundation and Early Years
Foundation and Early Years
B&G Foods, Inc. was founded in 1996, originally as a small snack food company operating under the name B&G Foods, Inc. The company started its journey with the launch of several brands, including Green Giant and Ortega.
Initial Public Offering
In 2013, B&G Foods went public, raising approximately $150 million through its initial public offering (IPO). The shares were priced at $19 each, and the company traded on the New York Stock Exchange under the ticker symbol BGS.
Acquisitions and Growth
Over the years, B&G Foods has expanded its portfolio through several strategic acquisitions. Key acquisitions include:
- 2014: Acquired the Green Giant brand from General Mills for $765 million.
- 2015: Purchased the spices and seasonings brand Tone’s for $110 million.
- 2016: Acquired the Mrs. Dash brand from Unilever for $60 million.
- 2018: Purchased the Crisco brand from J.M. Smucker Company for $550 million.
- 2020: Acquired the brand and assets of the snack food company, Angie's Boomchickapop, for $250 million.
Financial Performance
B&G Foods has experienced fluctuations in financial performance since its IPO, with revenue figures illustrating this variability. For instance, in the fiscal year 2022, the company reported total revenue of $1.79 billion, while in 2021, its revenue was reported at $1.79 billion.
Below is a summary of selected financial data:
| Year | Revenue (in billions) | Net Income (in millions) | EPS (Earnings Per Share) |
|---|---|---|---|
| 2022 | $1.79 | $98 | $1.48 |
| 2021 | $1.79 | $97 | $1.46 |
| 2020 | $1.60 | $64 | $1.00 |
| 2019 | $1.57 | $65 | $1.02 |
| 2018 | $1.50 | $90 | $1.32 |
Market Presence and Brands
B&G Foods' product portfolio includes over 50 brands, covering categories such as frozen vegetables, snacks, and spices. Notable brands include:
- Green Giant
- Crisco
- Ortega
- Mrs. Dash
- Angie's Boomchickapop
Challenges and Adaptations
As of 2023, B&G Foods faced challenges including rising costs of raw materials and supply chain disruptions, which have impacted profit margins. In response, the company has implemented various cost-saving measures and strategic pricing adjustments to maintain profitability.
Stock Performance
The stock price of B&G Foods has shown volatility since its IPO. As of October 2023, BGS shares traded at approximately $18.75, with a 52-week range of $15.75 to $25.50.
A Who Owns B&G Foods, Inc. (BGS)
Ownership Structure
Ownership Structure
B&G Foods, Inc. (BGS) is publicly traded on the New York Stock Exchange (NYSE) under the ticker symbol "BGS". As of the end of 2022, the company had approximately 37.9 million shares outstanding.
Institutional Ownership
Institutional investors play a significant role in the ownership of B&G Foods. According to the latest data, around 85% of the company's outstanding shares are held by institutional investors.
| Institution Name | Shares Held | Percentage of Ownership |
|---|---|---|
| BlackRock, Inc. | 5,775,010 | 15.2% |
| The Vanguard Group, Inc. | 4,818,347 | 12.7% |
| Dimensional Fund Advisors LP | 4,086,055 | 10.8% |
| Credit Suisse AG | 2,900,000 | 7.7% |
| State Street Corporation | 2,600,000 | 6.9% |
Insider Ownership
Insider ownership is also an important consideration. As of last reported numbers, insiders held approximately 3% of B&G Foods' total shares. This includes executives and board members.
| Insider Name | Position | Shares Held |
|---|---|---|
| Ken McGovern | CEO | 150,000 |
| Michael McGarry | CFO | 75,000 |
| David L. Dyer | Chairman | 50,000 |
| James G. Lafferty | Director | 40,000 |
Major Shareholders
Among the largest shareholders, it is crucial to recognize that approximately 40% of shares are held by the top five shareholders. This indicates significant concentration in ownership.
- BlackRock, Inc.
- The Vanguard Group, Inc.
- Dimensional Fund Advisors LP
- Credit Suisse AG
- State Street Corporation
Performance Metrics
B&G Foods’ market capitalization as of October 2023 was roughly $1.2 billion, with annual revenues reaching approximately $1.6 billion in 2022. The company reported a net income of around $150 million for the same period.
Recent Trends
In recent financial trends, B&G Foods has seen fluctuations in stock price, closing at $31.50 per share on October 10, 2023. This indicates an increase of approximately 12% from the previous quarter.
Conclusion on Stakeholder Influence
Overall, the combination of institutional and insider ownership provides a solid foundation for B&G Foods, Inc. The decisions made by significant stakeholders directly influence the company’s strategic direction and operational effectiveness.
B&G Foods, Inc. (BGS) Mission Statement
B&G Foods, Inc. (BGS) is a leading manufacturer and distributor of a diverse range of shelf-stable and frozen foods, including many well-known brands. The company is committed to enhancing the quality of life for its consumers by providing affordable, high-quality products. The mission statement of B&G Foods emphasizes innovation, sustainability, and community engagement.
Core Values
- Integrity
- Quality
- Innovation
- Sustainability
- Community Engagement
Financial Performance
As of the latest financial reports, B&G Foods has shown strong performance metrics. The following table summarizes key financial figures from the fiscal year 2022:
| Financial Metric | 2022 Amount | 2021 Amount | Year-over-Year Growth |
|---|---|---|---|
| Net Sales | $1.556 billion | $1.557 billion | -0.1% |
| Gross Profit | $542 million | $563 million | -3.7% |
| Operating Income | $120 million | $132 million | -9.1% |
| Net Income | $61 million | $67 million | -8.9% |
| Earnings Per Share (EPS) | $0.84 | $0.91 | -7.7% |
Brand Portfolio
B&G Foods boasts a diverse range of brands catering to various market segments. The company’s brand strategy includes enhancing existing products and innovating new offerings. Below is a table summarizing the key brands under B&G Foods:
| Brand Name | Category | Launch Year | Market Share (%) |
|---|---|---|---|
| Green Giant | Frozen Vegetables | 1903 | 9.8% |
| Pam | Cooking Spray | 1961 | 36.3% |
| Ortega | Taco Products | 1897 | 15.5% |
| Mrs. Dash | Seasonings | 1983 | 24.4% |
| New York Style | Snacks | 1985 | 7.2% |
Sustainability Initiatives
B&G Foods is dedicated to sustainability, focusing on reducing its environmental footprint through various initiatives. Key statistics about their sustainability efforts include:
- Reduction of greenhouse gas emissions by 20% from 2015 levels
- Packaging made from 100% recyclable materials
- Water usage reduction of 15% since 2019
- Community involvement through over $1 million in charitable contributions annually
Conclusion of Mission Statement Alignment
The mission statement of B&G Foods aligns with its operational strategies and market approach. The company aims to continue innovating while maintaining a strong commitment to quality and sustainability.
How B&G Foods, Inc. (BGS) Works
Company Overview
B&G Foods, Inc. (ticker: BGS) is a leading food manufacturer in the United States, focusing on shelf-stable and frozen foods. The company offers a diverse range of products under several well-known brands.
Financial Performance
As of Q2 2023, B&G Foods reported the following financial figures:
- Revenue: $430 million
- Net Income: $28 million
- Earnings Per Share (EPS): $0.58
- Total Assets: $2.5 billion
- Stock Price (as of October 2023): $18.34
Product Categories
B&G Foods operates through multiple product categories, which include:
| Category | Brands | Market Share (%) |
|---|---|---|
| Frozen Foods | Green Giant, Earthbound Farm | 10% |
| Canned Foods | Libby’s, Hunt’s | 15% |
| Spices and Seasonings | Mrs. Dash, Ortega | 13% |
| Snacks | Pirate’s Booty, New York Style | 8% |
Market Strategy
B&G Foods utilizes several strategic approaches to maintain its market presence:
- Focus on Brand Acquisition
- Invest in Product Innovation
- Enhance Supply Chain Efficiency
- Expand Distribution Channels
Sustainability Initiatives
The company has committed to various sustainability practices, including:
- Reducing greenhouse gas emissions by 25% by 2030
- Utilizing 25% recycled materials in packaging by 2025
- Implementing water-saving technologies in manufacturing
Recent Developments
In 2023, B&G Foods announced plans to:
- Launch a new line of organic products
- Invest $50 million in technology upgrades
- Expand into international markets, particularly in Canada and Mexico
Stock Performance
As of October 2023, key stock metrics include:
| Metric | Value |
|---|---|
| Market Capitalization | $1.2 billion |
| 52-Week High | $22.40 |
| 52-Week Low | $15.75 |
| Dividend Yield | 6.5% |
Conclusion
B&G Foods remains a significant player in the food industry, presenting strong performance metrics and strategic growth initiatives.
How B&G Foods, Inc. (BGS) Makes Money
Revenue Streams
B&G Foods generates revenue primarily through the sale of branded food products, including canned and frozen foods, snacks, and seasonings. The company’s portfolio includes over 50 brands, which are distributed through various channels.
Product Categories
- Packaged Foods - 63% of revenue
- Snacks - 22% of revenue
- Seasonings and Spices - 10% of revenue
- Frozen Foods - 5% of revenue
Financial Performance
In the fiscal year 2022, B&G Foods reported total revenue of approximately $1.9 billion. The company’s net income for the same year was approximately $118 million, translating to an earnings per share (EPS) of $1.20.
| Year | Total Revenue | Net Income | EPS |
|---|---|---|---|
| 2022 | $1.9 billion | $118 million | $1.20 |
| 2021 | $1.8 billion | $120 million | $1.25 |
| 2020 | $1.7 billion | $100 million | $1.05 |
Distribution Channels
B&G Foods’ products are distributed through several major channels: grocery stores, mass merchants, food service and convenience stores.
- Grocery Stores - 50%
- Mass Merchants - 30%
- Food Service - 15%
- Convenience Stores - 5%
Market Share and Competition
The company holds a significant market share within the canned and frozen food sectors. In 2022, B&G Foods was ranked as the third largest player in the canned vegetable market, with a market share of approximately 15%.
Acquisitions and Growth Strategy
B&G Foods has pursued growth through strategic acquisitions. Key acquisitions include:
- Green Giant (2015)
- Mrs. Dash (2013)
- New England Coffee (2012)
Marketing and Advertising
The company allocates approximately 5% of total revenue towards marketing and advertising efforts, focusing on brand awareness and consumer engagement.
Challenges and Risks
B&G Foods faces challenges such as rising raw material costs, competition from private labels, and changing consumer preferences towards healthier options. The company reported a cost of goods sold (COGS) of approximately $1.4 billion in 2022, indicating a gross margin of 26.3%.
Recent Developments
In Q2 2023, B&G Foods announced a partnership with leading retailers for the launch of new product lines, expected to contribute an additional $50 million to revenue in the upcoming fiscal year.
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