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

B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.19 per share on Thursday, January 30th. This represents a $0.76 annualized dividend and a dividend yield of 10.72%. The ex-dividend date of this dividend is Tuesday, December 31st.

B&G Foods has decreased its dividend by an average of 12.9% per year over the last three years. B&G Foods has a payout ratio of 115.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect B&G Foods to earn $0.70 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 108.6%.

B&G Foods Stock Performance

Shares of BGS opened at $7.09 on Friday. The stock has a market capitalization of $561.27 million, a P/E ratio of -20.85 and a beta of 0.54. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. B&G Foods has a 1 year low of $6.12 and a 1 year high of $11.97. The company’s fifty day moving average is $7.28 and its two-hundred day moving average is $8.03.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. On average, sell-side analysts predict that B&G Foods will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays cut their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Evercore ISI reduced their price objective 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. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, TD Cowen dropped 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 report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.30.

Insider Activity at B&G Foods

In related news, Director Stephen Sherrill acquired 70,000 shares of B&G Foods stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the transaction, the director now directly owns 353,084 shares of the company’s stock, valued at $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Eric H. Hart acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $6.25 per share, with a total value of $31,250.00. Following the transaction, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. This represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 90,111 shares of company stock valued at $593,054. 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.