B&G Foods Inc. up on Cramer’s recommendation
Shares of B&G Foods Inc. (NYSE: BGS) are trading higher ahead of the bell this morning after TheStreet.com’s Jim Cramer said late Tuesday that the manufacturer and distributor of food products is a conservative play for investors.
Cramer specifically noted that the company’s net sales are up 12.3% from the preceding quarter and that investors should be in the stock for the company's yield.
He also said the food distributor is known for purchasing "neglected brands," such as Ortega, Cream of Wheat and Underwood.
Shares of B&G gained $0.61, or 4.85%, to $13.19 in pre-market trading.
