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

B&G Foods, Inc. (NYSE:BGS - Get Free Report) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders 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 yield of 8.87%. The ex-dividend date is Tuesday, December 31st.

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 97.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect B&G Foods to earn $0.78 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 97.4%.

B&G Foods Stock Down 0.9 %

Shares of NYSE BGS traded down $0.08 during trading on Thursday, hitting $8.57. The stock had a trading volume of 372,770 shares, compared to its average volume of 1,007,029. The firm has a fifty day moving average of $8.60 and a two-hundred day moving average of $8.90. The company has a market capitalization of $678.44 million, a PE ratio of -5.59 and a beta of 0.60. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. B&G Foods has a 12 month low of $7.62 and a 12 month high of $11.97.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The firm had revenue of $444.60 million during the quarter, compared to analyst estimates of $435.83 million. During the same quarter last year, the business posted $0.15 EPS. The company's revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that B&G Foods will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the completion of the transaction, the executive vice president now directly owns 66,095 shares of the company's stock, valued at approximately $550,571.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

BGS has been the subject of several research analyst reports. Barclays decreased their target price on 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. Evercore ISI upgraded shares of B&G Foods to a "hold" rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of B&G Foods from a "sell" rating to a "hold" rating in a research note on Thursday, September 26th. Piper Sandler decreased their price target on shares of B&G Foods from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, July 11th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.67.

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.