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

B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Monday, March 2nd. Investors of record on Tuesday, March 31st will be paid a dividend of 0.19 per share on Thursday, April 30th. This represents a c) annualized dividend and a yield of 14.5%. The ex-dividend date of this dividend is Tuesday, March 31st.

B&G Foods has decreased its dividend by an average of 0.2%annually over the last three years. B&G Foods has a payout ratio of 126.7% indicating that 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 2.7%

NYSE BGS opened at $5.23 on Friday. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.32 and a quick ratio of 1.43. The stock has a market capitalization of $417.85 million, a P/E ratio of -9.68 and a beta of 0.46. The firm’s 50-day moving average is $4.98 and its two-hundred day moving average is $4.63. B&G Foods has a 12 month low of $3.67 and a 12 month high of $7.24.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The business had revenue of $539.56 million during the quarter, compared to analysts’ expectations of $537.50 million. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that B&G Foods will post 0.7 earnings per share for the current year.

Insider Activity

In other news, EVP Andrew D. Vogel sold 20,000 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $5.19, for a total value of $103,800.00. Following the sale, the executive vice president directly owned 50,679 shares in the company, valued at approximately $263,024.01. This trade represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David L. Wenner sold 19,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $5.19, for a total value of $101,205.00. Following the transaction, the director directly owned 787,566 shares of the company’s stock, valued at $4,087,467.54. The trade was a 2.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 50,821 shares of company stock worth $266,138. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

Hedge funds have recently added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV increased its position in B&G Foods by 3.9% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 63,628 shares of the company’s stock worth $282,000 after purchasing an additional 2,379 shares in the last quarter. Allworth Financial LP raised its stake in B&G Foods by 49.5% in the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock valued at $35,000 after purchasing an additional 2,612 shares during the last quarter. Savant Capital LLC lifted its holdings in B&G Foods by 10.3% in the 3rd quarter. Savant Capital LLC now owns 29,913 shares of the company’s stock valued at $133,000 after purchasing an additional 2,792 shares in the last quarter. Comerica Bank boosted its stake in shares of B&G Foods by 53.3% during the 4th quarter. Comerica Bank now owns 10,706 shares of the company’s stock worth $46,000 after purchasing an additional 3,722 shares during the last quarter. Finally, Summit Securities Group LLC boosted its stake in shares of B&G Foods by 37.1% during the 4th quarter. Summit Securities Group LLC now owns 14,400 shares of the company’s stock worth $62,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.