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

B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.19 per share on Wednesday, April 30th. This represents a $0.76 dividend on an annualized basis and a yield of 11.49%. The ex-dividend date of this dividend is Monday, March 31st.

B&G Foods has increased its dividend by an average of 46.4% per year over the last three years. B&G Foods has a dividend payout ratio of 104.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect B&G Foods to earn $0.67 per share next year, which means the company may not be able to cover its $0.76 annual dividend with an expected future payout ratio of 113.4%.

B&G Foods Price Performance

B&G Foods stock opened at $6.62 on Friday. The company has a fifty day simple moving average of $6.65 and a 200-day simple moving average of $7.29. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $523.50 million, a price-to-earnings ratio of -19.46 and a beta of 0.47. B&G Foods has a 52-week low of $5.45 and a 52-week high of $11.72.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. On average, equities analysts anticipate that B&G Foods will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their target price on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.10.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.