B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Monday, November 5th, Wall Street Journal reports. Shareholders of record on Monday, December 31st will be paid a dividend of 0.475 per share on Wednesday, January 30th. This represents a $1.90 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend is Friday, December 28th.
B&G Foods has increased its dividend payment by an average of 11.3% per year over the last three years and has increased its dividend every year for the last 7 years. B&G Foods has a payout ratio of 90.9% meaning 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 $2.18 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 87.2%.
Shares of NYSE BGS opened at $27.64 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.61 and a debt-to-equity ratio of 2.07. B&G Foods has a 12 month low of $22.00 and a 12 month high of $39.75. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 13.04 and a beta of 0.52.
B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. B&G Foods had a net margin of 11.09% and a return on equity of 16.01%. The business had revenue of $422.60 million during the quarter, compared to analysts’ expectations of $429.53 million. During the same period in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts forecast that B&G Foods will post 2.02 earnings per share for the current year.
Several equities analysts recently issued reports on the stock. ValuEngine cut shares of B&G Foods from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Credit Suisse Group boosted their target price on shares of B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday, October 31st. Citigroup decreased their target price on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. Zacks Investment Research cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $39.00 target price on shares of B&G Foods in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $34.22.
TRADEMARK VIOLATION NOTICE: This story was first posted by Macon Daily and is the property of of Macon Daily. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://macondaily.com/2018/11/06/bg-foods-inc-announces-quarterly-dividend-of-0-48-bgs.html.
B&G Foods Company Profile
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, 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, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.
Further Reading: What is a Swap?
Receive News & Ratings for B&G Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods and related companies with MarketBeat.com's FREE daily email newsletter.