B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Wednesday, September 30th will be given a dividend of 0.475 per share on Friday, October 30th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Tuesday, September 29th.
B&G Foods has raised its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. B&G Foods has a dividend payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research 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 $0.24 on Thursday, reaching $27.44. 23,418 shares of the stock traded hands, compared to its average volume of 701,622. B&G Foods has a 12 month low of $10.39 and a 12 month high of $27.89. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 20.12 and a beta of 0.24. The firm’s fifty day simple moving average is $24.89 and its 200 day simple moving average is $19.62. The company has a quick ratio of 1.78, a current ratio of 3.69 and a debt-to-equity ratio of 2.52.
B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, May 5th. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $449.37 million during the quarter, compared to analysts’ expectations of $431.04 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that B&G Foods will post 2.2 EPS for the current fiscal year.
A number of analysts have recently issued reports on BGS shares. ValuEngine lowered B&G Foods from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Jefferies Financial Group increased their price objective on B&G Foods from $19.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday. Barclays reaffirmed a “neutral” rating on shares of B&G Foods in a research note on Thursday, May 7th. Royal Bank of Canada assumed coverage on B&G Foods in a report on Thursday, June 11th. They issued a “sector perform” rating and a $27.00 target price on the stock. Finally, DA Davidson began coverage on shares of B&G Foods in a report on Thursday, June 11th. They set a “neutral” rating for the company. One equities research 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. B&G Foods has a consensus 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.
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