B&G Foods: Shares Are Getting Cheap, But Headwinds Remain Strong

Summary

• B&G Foods' share price has dropped over 70% in the past 2 years, stabilizing around $10, with some concerns about its ability to turn around.
• The sale of Green Giant and potential future divestitures within the frozen and vegetables segment may improve margins but will likely result in short-term revenue losses.
• In my view, high leverage remains a concern, with $1.78 billion in long-term debt, despite recent refinancing efforts to extend loan maturities and reduce interest costs.
• I maintain a Hold rating due to signs of price consolidation around the $10 level and a significant insider buying activity by the Chairman of the Board earlier this year.

B&G Foods, Inc. ( NYSE: BGS ) has experienced a sharp decline of over 70% in its share price over the past 2 years.

With the current share price consolidating around the $10 price level, which could be seen as a support level, many investors

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