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

B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.19 per share on Wednesday, October 30th. This represents a $0.76 dividend on an annualized basis and a yield of 8.14%. The ex-dividend date is Monday, September 30th.

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 97.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 $9.34 on Friday. The company has a fifty day moving average price of $8.59 and a 200 day moving average price of $9.34. The firm has a market cap of $738.34 million, a PE ratio of -6.49 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. B&G Foods has a 1-year low of $7.20 and a 1-year high of $11.97.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $435.83 million. During the same period in the prior year, the firm earned $0.15 earnings per share. B&G Foods’s revenue for the quarter was down 5.3% compared to the same quarter last year. Research analysts predict that B&G Foods will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at $550,571.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BGS shares. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. Piper Sandler lowered their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Finally, 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. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.67.

B&G Foods Company Profile

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.