B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.475 per share on Friday, October 30th. This represents a $1.90 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date is Tuesday, September 29th.
B&G Foods has increased its dividend by an average of 10.1% annually over the last three years and has raised its dividend every year for the last 9 years. B&G Foods has a dividend payout ratio of 95.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect B&G Foods to earn $2.01 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 94.5%.
NYSE BGS traded down $0.48 during trading hours on Thursday, reaching $27.20. The stock had a trading volume of 29,474 shares, compared to its average volume of 701,622. The stock has a fifty day moving average of $24.89 and a 200 day moving average of $19.62. The stock has a market cap of $1.76 billion, a P/E ratio of 20.12 and a beta of 0.24. B&G Foods has a 52-week low of $10.39 and a 52-week high of $27.89. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.78 and a current ratio of 3.69.
B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, May 5th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. B&G Foods had a return on equity of 12.82% and a net margin of 5.17%. The firm had revenue of $449.37 million for the quarter, compared to analyst estimates of $431.04 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. B&G Foods’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that B&G Foods will post 2.2 EPS for the current year.
A number of brokerages have recently issued reports on BGS. Piper Sandler upgraded B&G Foods from a “neutral” rating to an “overweight” rating and increased their target price for the company from $21.00 to $28.00 in a research report on Tuesday, May 12th. Jefferies Financial Group increased their price objective on B&G Foods from $19.00 to $23.00 and gave the company a “hold” rating in a research note on Monday. ValuEngine downgraded B&G Foods from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Barclays reissued a “neutral” rating on shares of B&G Foods in a research note on Thursday, May 7th. Finally, Credit Suisse Group increased their price objective on B&G Foods from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.75.
About B&G Foods
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.
Featured Article: How is a Moving Average Calculated?
Receive News & Ratings for B&G Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods and related companies with MarketBeat.com's FREE daily email newsletter.