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

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 paid a dividend of 0.19 per share on Wednesday, April 30th. This represents a $0.76 annualized dividend and a dividend yield of 11.09%. The ex-dividend date of this dividend is Monday, March 31st.

B&G Foods has increased its dividend by an average of 46.4% annually over the last three years. B&G Foods has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Up 1.7 %

Shares of BGS opened at $6.86 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The company has a 50-day moving average price of $6.59 and a two-hundred day moving average price of $7.50. The stock has a market cap of $542.64 million, a price-to-earnings ratio of -20.16 and a beta of 0.50. B&G Foods has a 12 month low of $5.45 and a 12 month high of $11.97.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. Equities analysts predict that B&G Foods will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BGS. Barclays reduced their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI cut their target price 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. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.