B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be paid 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 increased its dividend 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 dividend payout ratio of 87.7% meaning 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 $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%.
Shares of B&G Foods (BGS) opened at $33.60 on Friday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 17.87 and a beta of 0.11. The company has a current ratio of 3.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.34.
B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.08. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The business 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 firm posted $0.56 earnings per share. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. analysts anticipate that B&G Foods will post 2.12 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 target price on shares of B&G Foods in a research note on Tuesday, July 18th. Citigroup Inc raised shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday, July 20th. BMO Capital Markets raised shares of B&G Foods from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th. Finally, Buckingham Research reduced their target price on shares of B&G Foods from $43.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.61.
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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.
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