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

B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 8.78%. 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Stock Down 1.8 %

B&G Foods stock opened at $8.66 on Thursday. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. B&G Foods has a 12-month low of $7.62 and a 12-month high of $11.97. The firm’s fifty day moving average is $8.59 and its 200 day moving average is $8.90. The company has a market capitalization of $684.19 million, a PE ratio of -6.01 and a beta of 0.60.

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

Analyst Ratings Changes

BGS has been the topic of a number of research reports. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Barclays lowered their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. 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 report on Thursday, July 11th. Royal Bank of Canada restated a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Finally, Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.67.

Insider Transactions at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $550,571.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

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.