B&G Foods, Inc. (BGS) To Go Ex-Dividend on December 28th
B&G Foods, Inc. (NYSE:BGS) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, December 28th.
B&G Foods has increased its dividend by an average of 10.6% per year over the last three years and has raised its dividend every year for the last 6 years. B&G Foods has a 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 $2.23 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 83.4%.
Shares of B&G Foods (NYSE BGS) opened at $36.65 on Wednesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 3.24 and a quick ratio of 1.06. B&G Foods has a 1-year low of $29.50 and a 1-year high of $47.75. The stock has a market cap of $2,447.06, a PE ratio of 24.27 and a beta of 0.18.
B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $408.40 million during the quarter, compared to analyst estimates of $391.31 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. B&G Foods’s quarterly revenue was up 28.3% on a year-over-year basis. research analysts expect that B&G Foods will post 2.12 EPS for the current fiscal year.
A number of research firms have commented on BGS. Zacks Investment Research cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Monday. Stephens raised shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 target price on the stock in a research report on Wednesday, November 1st. Finally, Berenberg Bank raised shares of B&G Foods from a “hold” rating to a “buy” rating and decreased their target price for the company from $43.50 to $40.00 in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. B&G Foods has a consensus rating of “Hold” and an average price target of $40.22.
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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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