B&G Foods, Inc. Announces Quarterly Dividend of $0.19 (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.19 per share on Thursday, January 30th. This represents a $0.76 annualized dividend and a yield of 8.75%. The ex-dividend date is Tuesday, December 31st.

B&G Foods has decreased its dividend payment by an average of 12.9% per year over the last three years. B&G Foods has a payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect B&G Foods to earn $0.78 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 97.4%.

B&G Foods Price Performance

Shares of NYSE BGS opened at $8.69 on Thursday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The stock has a market capitalization of $686.95 million, a price-to-earnings ratio of -6.01 and a beta of 0.60. The firm’s 50 day simple moving average is $8.59 and its 200-day simple moving average is $8.90. B&G Foods has a 12 month low of $7.62 and a 12 month high of $11.97.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. Analysts expect that B&G Foods will post 0.74 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the completion of the sale, the executive vice president now owns 66,095 shares of the company’s stock, valued at approximately $550,571.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BGS shares. Barclays reduced their price target on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Evercore ISI raised shares of B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler reduced their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.67.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.