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

B&G Foods, Inc. (NYSE:BGS) declared a quarterly dividend on Monday, March 2nd. Shareholders of record on Tuesday, March 31st will be given 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 is Tuesday, March 31st.

B&G Foods has decreased its dividend by an average of 0.2%per year over the last three years. B&G Foods has a payout ratio of 126.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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%

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

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

Insider Activity

In related news, EVP Andrew D. Vogel sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 50,679 shares of the company’s stock, valued at $263,024.01. This represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Martin C. Schoch sold 11,321 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $5.40, for a total value of $61,133.40. Following the transaction, the executive vice president owned 34,347 shares in the company, valued at $185,473.80. The trade was a 24.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 50,821 shares of company stock valued at $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 business. Ensign Peak Advisors Inc lifted its position in shares of B&G Foods by 130.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 106,400 shares of the company’s stock worth $450,000 after purchasing an additional 60,300 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of B&G Foods by 414.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 216,332 shares of the company’s stock valued at $958,000 after purchasing an additional 174,312 shares in the last quarter. Ballentine Partners LLC increased its holdings in B&G Foods by 102.6% during the third quarter. Ballentine Partners LLC now owns 106,662 shares of the company’s stock valued at $473,000 after buying an additional 54,023 shares during the period. Evergreen Capital Management LLC purchased a new position in B&G Foods during the third quarter valued at approximately $105,000. Finally, Inscription Capital LLC bought a new position in B&G Foods in the third quarter worth approximately $84,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

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.