BEGA CHEESE LIMITED (BGA)
Share Price Analysis and Chart

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BGA - BEGA CHEESE LIMITED

FNArena Sector : Dairy
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Index: ASX200 | ASX300 | ALL-ORDS

Bega Cheese is an Australian food company specialising in dairy products and spreads. Founded in 1899 as an agricultural cooperative, it became a listed company in 2011. Brought Vegemite back under local ownership.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.11

17 Jan
2022

-0.100

OPEN

$5.20

-1.92%

HIGH

$5.25

677,369

LOW

$5.11

TARGET
$5.553 8.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A2M . MGC . FSF . SM1 . NUC . BUB . BFC . TFL . NUC .
FNARENA'S MARKET CONSENSUS FORECASTS
BGA: 1
Title FY20
Actual		 FY21
Actual		 FY22
Forecast		 FY23
Forecast
EPS (cps) xxx 27.3 22.3 xxx
DPS (cps) xxx 10.0 11.3 xxx
EPS Growth xxx 100.0% - 18.3% xxx
DPS Growth xxx 1.7% 12.5% xxx
PE Ratio xxx N/A 23.4 xxx
Dividend Yield xxx N/A 2.2% xxx
Div Pay Ratio(%) xxx 36.6% 50.4% xxx

Dividend yield today if purchased 3 years ago: 2.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.92

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 01/09 - ex-div 5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2022 FactSet UK Limited. All rights reserved
Title 201620172018201920202021
EPS Basic xxxxxxxxxxxxxxx27.3
DPS All xxxxxxxxxxxxxxx10.0
Sales/Revenue xxxxxxxxxxxxxxx2,073.4 M
Book Value Per Share xxxxxxxxxxxxxxx416.6
Net Operating Cash Flow xxxxxxxxxxxxxxx111.4 M
Net Profit Margin xxxxxxxxxxxxxxx3.48 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920202021
Return on Capital Employed xxxxxxxxxxxxxxx6.96 %
Return on Invested Capital xxxxxxxxxxxxxxx5.15 %
Return on Assets xxxxxxxxxxxxxxx3.69 %
Return on Equity xxxxxxxxxxxxxxx6.96 %
Return on Total Capital xxxxxxxxxxxxxxx4.57 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx65.9 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

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EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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UBS

17/01/2022

3

Neutral

$5.61

9.78%

Bega Cheese has advised of product price increases in an effort to offset recent earnings impacts from supply chain issues and covid related disruptions including factory shutdowns and increased safety costs, but UBS highlights price benefits will be realised in FY23.

The company has updated underlying earnings to $195-215m, with UBS forecasting $202m. Demand remains resilient for branded products and $36m in acquisition synergies from the Lion Dairy and Drinks acquisition offset negative margin impacts according to UBS.

The Neutral rating is retained and the target price decreases to $5.61 from $5.95.

FORECAST
UBS forecasts a full year FY22 EPS of 21.00 cents.
UBS forecasts a full year FY23 EPS of 30.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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BGA STOCK CHART

FNArena News on BGA

1
Weekly Ratings, Targets, Forecast Changes – 14-01-22

Jan 17 2022 - Weekly Reports
2
Rudi’s View: 29Metals, Calix, Chalice Mining, Incitec Pivot, Telstra & Qantas

Jan 13 2022 - Rudi's View
3
ESG Focus: ASX300 Rated On Modern Slavery

Dec 23 2021 - ESG Focus
4
Australian Broker Call *Extra* Edition – Dec 01, 2021

Dec 01 2021 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Sep 30, 2021

Sep 30 2021 - Daily Market Reports

Latest Dairy News

1
a2 Milk Pumps Up Growth Expectations

Oct 29 2021 - Australia
2
Bega Cheese: Melting Up?

Jun 01 2021 - Technicals
3
Synlait Milk Eyes Recovery, But Risks Remain

May 26 2021 - Australia
4
A2 Milk At A Crossroad In China?

Apr 22 2021 - Australia
5
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia
6
Uncertainty Prevails For Synlait Milk

Sep 30 2020 - Small Caps
7
Daigou Drought Sours a2 Milk Outlook

Sep 29 2020 - Australia
8
Treasure Chest: Is a2 Milk In Danger?

Sep 10 2020 - Treasure Chest
9
a2 Milk Souring

Sep 02 2020 - Technicals
10
IPO Taps Appetite For Plant-Based Proteins

Aug 17 2020 - Weekly Reports