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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (61750)	2/25/2019 1:33:23 PM
From: E_K_S	Read Replies (2) of 78673

I have my next Buy on BGS at $23.75/share. CEO announced he will retire April 5th, so next earnings s/d be ok. Robert C. Cantwell, CEO of B&G Foods (NYSE: BGS) plans to retire on April 5, 2019. As per the succession plan established in 2017, Kenneth G. Romanzi, currently Company’s EVPt and COO will succeed Mr. Cantwell as President and CEO. Company still has quite a bit of debt 10.21x annual Net income = long term debt. CEO has been paying down each quarter from FCF. compared to GIX at 7.5X and UNFI at 5x. BGS div now yields 7.4% so that may/could get cut as another way to get that debt lower. My avg cost at $27.50/share and currently at/near an 80% position. Of my food distributors, I still like UNFI for their value proposition. FWIW BGS selling close to it's GN value of $24.43/share. -------------------------------------------------- I did make another add to DF at $4.44/share last week. BV is $6.40/share and does represent the recent upgrade in equipment. Company booked a loss last quarter as milk prices are at lows and you can only cut cost so much. DF did add to their non-milk products w/ a soy milk line. I am looking at SJM w/ only 4.7x annual net income=long term debt but think at $93.00/share would be a better entry point. SJM has one of the best (low) debt profiles in the sector. EKS

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