We recently compiled a list of the 12 Top Performing Consumer Staples Stocks in February. B&G Foods, Inc. (NYSE:BGS) is one of the best performing stocks on this list.

TheFly reported on March 4 that Evercore ISI increased its price target for BGS to $5.00 from $4.50 while reiterating an In Line rating on the stock. The firm also lifted its EBITDA forecasts and cited emerging indications that the company’s operating trends are beginning to stabilize.

In a recent move, on March 2, B&G Foods, Inc. (NYSE:BGS) announced the completion of the sale of its Green Giant U.S. frozen vegetable business to Seneca Foods Corporation. The divestiture includes the company’s frozen vegetable production facility located in Yuma, Arizona. Following the transaction, BGS will continue operating its frozen vegetable manufacturing plant in Irapuato, Mexico, and has entered into a co-packing arrangement under which it will produce certain Green Giant frozen products for Seneca Foods.

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The move represents another step in BGS’ broader strategy to sell brands and product lines that are not central to its long-term business priorities while concentrating on core operations and reducing debt. The transaction also reunites the Green Giant frozen portfolio with the brand’s U.S. shelf-stable vegetable line, which Seneca Foods acquired earlier. Proceeds from the sale are expected to support general corporate needs, including debt repayment, taxes, fees, and investments in assets that support the company’s ongoing business activities.

B&G Foods, Inc. (NYSE:BGS) is a U.S. packaged foods company that owns, produces, and distributes a portfolio of shelf-stable and frozen food brands. Its products include sauces, seasonings, snacks, and meal ingredients sold through supermarkets, mass merchants, and foodservice channels across North America.

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