B&G Foods, Inc. (BGS) To Go Ex-Dividend on March 31st

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 paid 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 11.49%. The ex-dividend date of this dividend is Monday, March 31st.

B&G Foods has raised its dividend payment by an average of 46.4% annually over the last three years. B&G Foods has a dividend payout ratio of 104.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Up 0.5 %

Shares of NYSE:BGS opened at $6.62 on Friday. The company has a market capitalization of $523.50 million, a PE ratio of -19.46 and a beta of 0.47. B&G Foods has a 12-month low of $5.45 and a 12-month high of $11.72. The business has a 50 day moving average of $6.65 and a two-hundred day moving average of $7.29. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. As a group, analysts forecast that B&G Foods will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One equities 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 company presently has an average rating of “Hold” and a consensus target price of $8.10.

About B&G Foods

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.