B&G Foods, Inc. (BGS) Plans Quarterly Dividend of $0.47
B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.465 per share on Tuesday, January 30th. This represents a $1.86 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Thursday, December 28th.
B&G Foods has raised its dividend payment by an average of 10.6% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. B&G Foods has a payout ratio of 87.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect B&G Foods to earn $2.25 per share next year, which means the company should continue to be able to cover its $1.86 annual dividend with an expected future payout ratio of 82.7%.
B&G Foods (NYSE:BGS) traded down $2.25 during trading on Friday, hitting $33.60. The stock had a trading volume of 1,598,535 shares, compared to its average volume of 1,205,624. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.87 and a beta of 0.11.
B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, October 31st. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.47 by $0.08. B&G Foods had a return on equity of 15.50% and a net margin of 6.29%. The company had revenue of $408.40 million for the quarter, compared to the consensus estimate of $391.31 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. research analysts predict that B&G Foods will post 2.12 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the company. Citigroup Inc. raised B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, July 20th. BidaskClub raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $52.00 target price on shares of B&G Foods in a research report on Tuesday, July 18th. BMO Capital Markets decreased their target price on B&G Foods from $45.00 to $39.00 and set a “market perform” rating on the stock in a research report on Friday, August 4th. Finally, Zacks Investment Research downgraded B&G Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. B&G Foods currently has a consensus rating of “Buy” and an average price target of $40.61.
About B&G Foods
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across 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 vinegar, maple syrup, 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, nut clusters and other specialty products.
Receive News & Ratings for B&G Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.