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

B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Monday, February 24th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.19 per share on Wednesday, April 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.26%.

B&G Foods has raised its dividend payment by an average of 46.4% per year over the last three years. B&G Foods has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect B&G Foods to earn $0.67 per share next year, which means the company may not be able to cover its $0.76 annual dividend with an expected future payout ratio of 113.4%.

B&G Foods Stock Performance

B&G Foods stock traded up $0.08 during midday trading on Monday, hitting $6.75. The company’s stock had a trading volume of 2,241,472 shares, compared to its average volume of 1,540,911. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods has a 1-year low of $5.45 and a 1-year high of $11.97. The company has a market cap of $534.36 million, a price-to-earnings ratio of -19.85 and a beta of 0.50. The company has a 50-day moving average price of $6.63 and a two-hundred day moving average price of $7.53.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Cowen decreased their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Barclays decreased their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Evercore ISI decreased their price target on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.30.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.