B&G Foods, Inc. (BGS) to Issue Quarterly Dividend of $0.19 on October 30th

B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.19 per share on Wednesday, October 30th. This represents a $0.76 annualized dividend and a yield of 8.93%. The ex-dividend date of this dividend is Monday, September 30th.

B&G Foods has decreased its dividend payment by an average of 12.9% annually over the last three years. B&G Foods has a payout ratio of 89.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect B&G Foods to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 91.6%.

B&G Foods Price Performance

Shares of BGS traded down $0.11 during mid-day trading on Thursday, hitting $8.51. 222,425 shares of the stock were exchanged, compared to its average volume of 1,072,385. B&G Foods has a 52-week low of $7.20 and a 52-week high of $15.15. The company has a market cap of $672.72 million, a PE ratio of -5.98 and a beta of 0.61. The firm has a 50-day moving average of $8.56 and a two-hundred day moving average of $9.80. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.92 and a current ratio of 3.22.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $475.22 million during the quarter, compared to the consensus estimate of $480.93 million. B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS. On average, equities analysts predict that B&G Foods will post 0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BGS has been the subject of a number of research reports. Barclays decreased their target price on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. StockNews.com downgraded B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Finally, Piper Sandler decreased their target price on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, B&G Foods currently has an average rating of “Hold” and a consensus price target of $8.50.

Insider Buying and Selling

In other news, Director Stephen Sherrill bought 125,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $8.59 per share, with a total value of $1,073,750.00. Following the purchase, the director now owns 270,136 shares of the company’s stock, valued at approximately $2,320,468.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Stephen Sherrill bought 125,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $8.59 per share, for a total transaction of $1,073,750.00. Following the completion of the purchase, the director now owns 270,136 shares of the company’s stock, valued at $2,320,468.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Bruce C. Wacha bought 5,200 shares of the business’s stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $8.59 per share, for a total transaction of $44,668.00. Following the completion of the transaction, the chief financial officer now owns 91,328 shares in the company, valued at $784,507.52. The disclosure for this purchase can be found here. Insiders bought 141,955 shares of company stock valued at $1,218,453 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

About B&G Foods

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.