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

$5.35

22 Jan
2021

0.020

OPEN

$5.34

0.38%

HIGH

$5.39

674,788

LOW

$5.26

TARGET
$5.90 10.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A2M . MGC . FSF . SM1 . NUC . BUB . BFC . TFL .
MARKET CONSENSUS FORECAST
BGA: 1
Title FY19
Actual		 FY20
Actual		 FY21
Forecast		 FY22
Forecast
EPS (cps) xxx 9.9 17.4 xxx
DPS (cps) xxx 10.0 12.5 xxx
EPS Growth xxx 100.0% 75.8% xxx
DPS Growth xxx - 9.1% 25.0% xxx
PE Ratio xxx N/A 30.7 xxx
Dividend Yield xxx N/A 2.3% xxx
Div Pay Ratio(%) xxx 101.0% 71.8% xxx

Dividend yield today if purchased 3 years ago: 1.41%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.87

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: 07/09 - 5c (100%)

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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UBS

27/11/2020

1

Buy

$5.70

6.54%

Bega Cheese has entered into a binding Share Sale and Purchase Agreement to acquire Lion Dairy & Drinks (LD&D) for $534m, or $612m including lease liabilities.

The acquisition will be funded via a $267m debt ($198m draw down) and an underwritten capital raise of $401m, priced at $4.60.

LD&D operates 13 manufacturing sites, as well as Australia's largest national cold chain distribution network. Additionally, it owns a portfolio of milk and plant based beverages, yoghurt, juice, white milk and culinary brands.

UBS highlights the large synergy opportunity across corporate, milk supply and procurement. The acquisition is expected to be double-digit EPS accretive in FY22, including synergies of $36m.

The Buy rating and target price of $5.70 are unchanged.

FORECAST
UBS forecasts a full year FY21 dividend of 14.00 cents and EPS of 20.80 cents.
UBS forecasts a full year FY22 dividend of 15.90 cents and EPS of 27.90 cents.
Access Stockbroker Research History >

BGA STOCK CHART

FNArena News on BGA

1
Australian Broker Call *Extra* Edition – Jan 20, 2021

Jan 20 2021 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Dec 11, 2020

Dec 11 2020 - Daily Market Reports
3
Rudi’s View: Brambles, Orica, Reece and… Tesla

Dec 04 2020 - Rudi's View
4
Australian Broker Call *Extra* Edition – Nov 09, 2020

Nov 09 2020 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Oct 30, 2020

Oct 30 2020 - Daily Market Reports

Latest Dairy News

1
Sales Slowdown Hits a2 Milk Guidance

Dec 21 2020 - Australia
2
Uncertainty Prevails For Synlait Milk

Sep 30 2020 - Small Caps
3
Daigou Drought Sours a2 Milk Outlook

Sep 29 2020 - Australia
4
Treasure Chest: Is a2 Milk In Danger?

Sep 10 2020 - Treasure Chest
5
a2 Milk Souring

Sep 02 2020 - Technicals
6
IPO Taps Appetite For Plant-Based Proteins

Aug 17 2020 - Weekly Reports
7
The Wrap: Troubled SMEs, a2 Milk & Gaming

Jul 24 2020 - Weekly Reports
8
Is There More Upside For a2 Milk?

Apr 23 2020 - Australia
9
Fonterra Retains Positive FY20 Outlook

Mar 19 2020 - Australia
10
Bega Cheese Increasing Focus On Brands

Mar 04 2020 - Australia