B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.475 per share on Friday, October 30th. This represents a $1.90 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend is Tuesday, September 29th.
B&G Foods has raised its dividend by an average of 10.1% per year over the last three years and has raised its dividend every year for the last 9 years. B&G Foods has a payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect B&G Foods to earn $2.01 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 94.5%.
Shares of BGS stock traded down $0.33 during mid-day trading on Thursday, hitting $27.35. 19,856 shares of the company’s stock were exchanged, compared to its average volume of 701,622. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 20.12 and a beta of 0.24. The company has a quick ratio of 1.78, a current ratio of 3.69 and a debt-to-equity ratio of 2.52. B&G Foods has a fifty-two week low of $10.39 and a fifty-two week high of $27.89. The stock has a 50-day simple moving average of $24.89 and a two-hundred day simple moving average of $19.62.
A number of equities research analysts recently issued reports on BGS shares. DA Davidson started coverage on shares of B&G Foods in a report on Thursday, June 11th. They issued a “neutral” rating for the company. Jefferies Financial Group boosted their price objective on shares of B&G Foods from $19.00 to $23.00 and gave the company a “hold” rating in a research note on Monday. Barclays reaffirmed a “neutral” rating on shares of B&G Foods in a research report on Thursday, May 7th. Credit Suisse Group lifted their target price on B&G Foods from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Royal Bank of Canada assumed coverage on B&G Foods in a research note on Thursday, June 11th. They set a “sector perform” rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.75.
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, oatmeal and 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.
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