B & G Foods Inc Stock Price, News & Analysis

B&G Foods, Inc. (NYSE: BGS) has announced a quarterly cash dividend of $0.475 per share, payable on January 31, 2022 to shareholders of record as of December 31, 2021. This dividend reflects an annualized yield of 6.1% based on the market price as of November 2, 2021. This marks the 69th consecutive quarterly dividend declared since the company's IPO in October 2004.

B&G Foods, Inc. (NYSE: BGS) will release its third quarter 2021 financial results on November 4, 2021, after market close. A conference call to discuss the results will be held at 4:30 p.m. ET, hosted by President and CEO Casey Keller and CFO Bruce Wacha. Investors can access the earnings release and live webcast through the company’s investor relations website. B&G Foods is recognized for its diverse portfolio of over 50 brands, including Green Giant and Crisco, serving customers across the U.S., Canada, and Puerto Rico.

Ortega, a leading brand under B&G Foods, has launched Mini Taco Slider Shells, designed for versatile taco experiences suitable for various occasions, from game days to family dinners. Each box contains 18 mini shells, now available at Walmart nationwide. This launch follows other recent innovations, including Ortega Street Taco Crockpot Seasoning Mixes and Sauces. The product aims to cater to the growing trend of customizable meals, enhancing consumer taco experiences with smaller, mix-and-match options.

B&G Foods is recalling 3,867 cases of Tone’s Taco Seasoning Blend with best by dates of SEPT 03 24 and SEPT 06 24 due to undeclared wheat, posing a risk for those with allergies. Incorrect labeling on some containers, which led to this recall, has not been linked to any allergic reactions. Consumers can return the product for a refund or dispose of it. The recall affects only specific UPCs and best by dates.

B&G Foods, Inc. (NYSE: BGS) will present at the Barclays Global Consumer Staples Conference on September 8, 2021, starting at 3:20 p.m. Eastern Time. Interested parties can access a live webcast via the company’s investor relations site. A replay will be available after the event. Headquartered in Parsippany, New Jersey, B&G Foods specializes in producing and distributing a variety of high-quality, branded shelf-stable and frozen foods in the U.S., Canada, and Puerto Rico.

B&G Foods (NYSE: BGS) announced the sale of its Portland, Maine manufacturing facility to the Institute for Digital Engineering and Life Sciences. Manufacturing for brands like B&M and Underwood will transition to third-party co-manufacturers. This move aims to enhance productivity and reduce costs. The sale triggers a multi-employer pension plan withdrawal liability of $14.1 million, to be paid over 20 years. Despite these changes, B&G does not expect production disruptions.

B&G Foods announced it has filed a prospectus supplement with the SEC for an "at-the-market" (ATM) equity offering program, potentially offering up to 7,500,000 shares of common stock. The proceeds will be utilized for general corporate purposes, including paying down long-term debt or acquisitions. Leading financial institutions, including BofA Securities and Barclays, will act as sales agents for the offering. The sales methods include ordinary brokers’ transactions and private negotiations, with variable pricing. The offering is conducted under SEC regulations and involves inherent risks.

B&G Foods reported Q2 2021 results with net sales decreasing 9.4% to $464.4 million year-over-year, impacted by elevated demand from the prior year. Base business sales fell 20.8%, yet were 25.1% above pre-pandemic levels from Q2 2019. Diluted EPS decreased 45.7% to $0.38. Adjusted EBITDA dropped 18.3% to $83.8 million, affected by input cost inflation. The company reaffirmed its full-year net sales guidance of $2.05 billion to $2.10 billion. CEO Casey Keller mentioned inflation and ongoing brand integration as challenges.

B&G Foods declared a quarterly cash dividend of $0.475 per share, payable on November 1, 2021, to shareholders of record as of September 30, 2021. This dividend represents an annualized yield of 6.6% based on the stock's closing price on August 3, 2021. Notably, this marks the 68th consecutive quarterly dividend since the company's IPO in October 2004, reflecting a strong commitment to returning value to shareholders.