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

B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Monday, February 26th, Zacks reports. Investors of record on Thursday, March 28th will be paid a dividend of 0.19 per share on Tuesday, April 30th. This represents a $0.76 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Wednesday, March 27th.

B&G Foods has decreased its dividend payment by an average of 26.3% per year over the last three years. B&G Foods has a dividend payout ratio of 81.7% 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 $0.90 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 84.4%.

B&G Foods Stock Performance

NYSE:BGS opened at $11.11 on Monday. B&G Foods has a 52 week low of $7.20 and a 52 week high of $16.68. The company has a fifty day simple moving average of $10.37 and a two-hundred day simple moving average of $9.90. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.89 and a current ratio of 3.06.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $578.13 million for the quarter, compared to the consensus estimate of $569.65 million. B&G Foods had a positive return on equity of 8.68% and a negative net margin of 3.21%. B&G Foods’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 EPS. Sell-side analysts predict that B&G Foods will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Creative Planning acquired a new position in B&G Foods in the fourth quarter valued at $187,000. NCM Capital Management LLC boosted its position in shares of B&G Foods by 47.5% in the 4th quarter. NCM Capital Management LLC now owns 15,222 shares of the company’s stock valued at $170,000 after purchasing an additional 4,903 shares during the period. Oracle Alpha Inc. acquired a new stake in shares of B&G Foods in the 4th quarter valued at about $167,000. B. Riley Wealth Advisors Inc. grew its stake in B&G Foods by 15.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 13,211 shares of the company’s stock worth $150,000 after buying an additional 1,723 shares during the last quarter. Finally, Mariner LLC acquired a new position in B&G Foods during the third quarter worth approximately $137,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

Wall Street Analyst Weigh In

BGS has been the subject of several analyst reports. Piper Sandler boosted their price target on shares of B&G Foods from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, February 28th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.50.

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.