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

B&G Foods, Inc. (NYSE:BGS) announced 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 11.26%.

B&G Foods has increased its dividend payment by an average of 46.4% annually over the last three years. B&G Foods has a dividend payout ratio of 100.0% indicating that 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 $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 Stock Up 1.2 %

BGS stock traded up $0.08 during midday trading on Monday, reaching $6.75. 2,241,472 shares of the company’s stock traded hands, compared to its average volume of 1,540,911. The company has a market cap of $534.36 million, a price-to-earnings ratio of -19.85 and a beta of 0.50. The firm’s fifty day moving average price is $6.63 and its 200-day moving average price is $7.53. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods has a 52 week low of $5.45 and a 52 week high of $11.97.

Wall Street Analyst Weigh In

BGS has been the subject of several recent analyst reports. Evercore ISI reduced their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. TD Cowen reduced their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Finally, Barclays reduced their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.30.

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.