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

B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Tuesday, May 21st, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.19 per share on Tuesday, July 30th. This represents a $0.76 dividend on an annualized basis and a yield of 7.96%. The ex-dividend date is Friday, June 28th.

B&G Foods has decreased its dividend by an average of 12.9% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. B&G Foods has a dividend payout ratio of 85.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect B&G Foods to earn $0.84 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 90.5%.

B&G Foods Stock Down 0.4 %

BGS opened at $9.55 on Thursday. The business’s fifty day moving average is $10.64 and its two-hundred day moving average is $10.29. The company has a current ratio of 3.22, a quick ratio of 0.92 and a debt-to-equity ratio of 2.58. B&G Foods has a one year low of $7.20 and a one year high of $15.15.

B&G Foods (NYSE:BGS) last issued 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). B&G Foods had a negative net margin of 5.42% and a positive return on equity of 8.33%. The company had revenue of $475.22 million during the quarter, compared to analysts’ expectations of $480.93 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts forecast that B&G Foods will post 0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BGS has been the topic of several recent research reports. StockNews.com downgraded B&G Foods from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Piper Sandler upgraded B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, B&G Foods has an average rating of “Hold” and a consensus target price of $9.50.

Insider Buying and Selling

In other B&G Foods news, Director Stephen Sherrill bought 125,000 shares of B&G Foods stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $8.59 per share, for a total transaction of $1,073,750.00. Following the completion of the transaction, 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 can be accessed through this link. In other news, Director Stephen Sherrill acquired 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $8.59 per share, for a total transaction of $1,073,750.00. Following the acquisition, the director now directly owns 270,136 shares in the company, valued at approximately $2,320,468.24. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Bruce C. Wacha acquired 5,200 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $8.59 per share, for a total transaction of $44,668.00. Following the completion of the acquisition, 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. Over the last ninety days, insiders have acquired 141,955 shares of company stock worth $1,218,453. 3.20% of the stock is owned by company insiders.

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.