B&G Foods, Inc. (BGS) to Issue Quarterly Dividend of $0.19 on July 30th

B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Tuesday, May 21st, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.19 per share on Tuesday, July 30th. This represents a $0.76 dividend on an annualized basis and a yield of 9.46%. The ex-dividend date of this dividend is Friday, June 28th.

B&G Foods has decreased its dividend payment by an average of 12.9% annually over the last three years. B&G Foods has a dividend payout ratio of 85.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect B&G Foods to earn $0.84 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 90.5%.

B&G Foods Price Performance

Shares of BGS opened at $8.04 on Wednesday. B&G Foods has a 12 month low of $7.20 and a 12 month high of $15.15. The stock’s 50 day moving average is $9.68 and its two-hundred day moving average is $10.26. The company has a debt-to-equity ratio of 2.58, a current ratio of 3.22 and a quick ratio of 0.92.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $475.22 million for the quarter, compared to analysts’ expectations of $480.93 million. B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. B&G Foods’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, sell-side analysts expect that B&G Foods will post 0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Piper Sandler upgraded shares of B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, B&G Foods currently has a consensus rating of “Hold” and an average target price of $9.50.

Insiders Place Their Bets

In other news, EVP Scott E. Lerner purchased 11,755 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $8.51 per share, with a total value of $100,035.05. Following the purchase, the executive vice president now directly owns 189,144 shares in the company, valued at approximately $1,609,615.44. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other B&G Foods news, EVP Scott E. Lerner bought 11,755 shares of B&G Foods stock in a transaction on Monday, May 13th. The shares were bought at an average price of $8.51 per share, for a total transaction of $100,035.05. Following the completion of the transaction, the executive vice president now directly owns 189,144 shares of the company’s stock, valued at $1,609,615.44. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Bruce C. Wacha purchased 5,200 shares of the stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $8.59 per share, with a total value of $44,668.00. Following the completion of the acquisition, the chief financial officer now owns 91,328 shares in the company, valued at approximately $784,507.52. The disclosure for this purchase can be found here. Insiders have bought 141,955 shares of company stock valued at $1,218,453 over the last ninety days. Company insiders own 3.20% of the company’s stock.

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.