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

B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Monday, February 24th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.19 per share on Wednesday, April 30th. This represents a $0.76 dividend on an annualized basis and a dividend 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 tumble. Equities research 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 Trading Up 1.2 %

Shares of NYSE:BGS opened at $6.75 on Tuesday. B&G Foods has a one year low of $5.45 and a one year high of $11.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a 50 day simple moving average of $6.61 and a 200 day simple moving average of $7.51.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BGS. Barclays cut their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Evercore ISI cut their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. Finally, TD Cowen reduced their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.30.

About B&G Foods

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.