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

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 given 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 8.91%. The ex-dividend date is Tuesday, December 31st.

B&G Foods has decreased its dividend by an average of 12.9% annually over the last three years. B&G Foods has a dividend payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Performance

Shares of B&G Foods stock traded down $0.12 on Thursday, reaching $8.53. 57,259 shares of the company traded hands, compared to its average volume of 1,005,344. B&G Foods has a 52 week low of $7.62 and a 52 week high of $11.97. The company has a 50 day moving average of $8.59 and a 200 day moving average of $8.90. The firm has a market capitalization of $674.31 million, a PE ratio of -6.01 and a beta of 0.60. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share 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 firm had revenue of $444.60 million during the quarter, compared to the consensus estimate of $435.83 million. During the same period in the prior year, the firm earned $0.15 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. Equities analysts forecast that B&G Foods will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Piper Sandler cut their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Evercore ISI raised shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Barclays lowered their target price on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.67.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.