• Fri, Jan. 13, 9:21 AM
    • Kellogg Company (NYSE:K) announces that Fareed Khan will be the company's new CFO.
    • Khan takes over the position from Ron Dissinger the day after the company's 10-K is filed.
    • Khan joins Kellogg from US Foods Holding where he held the CFO position since 2013 and helped guide the food distributor through the IPO process.
    • Previously: US Foods names new chief financial officer, general counsel (Jan. 12)
    • Source: Press Release
    Fri, Jan. 13, 9:21 AM | 1 Comment
  • Wed, Jan. 11, 9:47 AM
    • Citi dives into the packaged food sector in a new note to clients. Analyst David Driscoll points to margin expansion, tax reform and benign input cost inflation as positive factors. There's also the M&A overhang with food stocks that may or may not be baked into share price.
    • Top picks include Kellogg (K +0.4%), J.M. Smucker (SJM +0.6%), Hershey (HSY -0.1%) and Blue Buffalo Pet Products (BUFF +0.4%).
    • ConAgra Foods (CAG +0.9%) is upgraded to Buy from Neutral.
    • Perhaps most noteworthy of all, Citi takes the Sell sign off Kraft Heinz (KHC +0.7%) as it upgrades to Neutral on the expectation for a deal.
    • Previously: Digging into Kraft Heinz's M&A upside (Dec. 21, 2016)
    • Sources: Bloomberg and Susquehanna
    Wed, Jan. 11, 9:47 AM | 9 Comments
  • Dec. 14, 2016, 5:10 PM
    Dec. 14, 2016, 5:10 PM | 1 Comment
  • Dec. 7, 2016, 10:11 AM
    • Kellogg (K -0.9%) opens lower after Credit Suisse removes the company from its US Focus List.
    • The investment firm now has the food stock rated at Neutral on concerns that growth at Kellogg isn't keeping up with peers.
    • Shares of Kellogg have fallen back 18% from their highest level of the summer.
    Dec. 7, 2016, 10:11 AM | 4 Comments
  • Nov. 30, 2016, 2:45 AM
    • Global consumer companies, including Unilever (NYSE:UL), Nestle (OTCPK:NSRGY), Kellogg (NYSE:K) and Procter & Gamble (NYSE:PG), have sourced palm oil from Indonesian plantations where "child labor" and "hazardous conditions" were uncovered, according to NGO Amnesty International.
    • "Practices such as those have no place in our supply chain," Nestle and P&G responded, adding that they would "remedy any potential human rights infringements."
    Nov. 30, 2016, 2:45 AM | 12 Comments
  • Nov. 15, 2016, 10:38 AM
    • Kellogg (K +0.4%) thinks it has a winner with the introduction of Cinnamon Frosted Flakes in the U.S.
    • The company says it pulled the switch to develop the new product after factoring in consumer input.
    • "Cinnamon ranks as the top flavor request among Frosted Flakes lovers, so this innovation made perfect sense," notes Kellogg U.S. Morning Foods R&D exec Joanna Grennes.
    • Cinnamon Frosted Flakes will be sold in some stores this month and next in advance of a broad roll-out in January.
    • Kellogg's U.S. Morning Foods segment reported a drop in revenue in Q3.
    Nov. 15, 2016, 10:38 AM
  • Nov. 8, 2016, 2:58 PM
    • Food stocks are getting gobbled after a report circulates indicating that 3G is prepping for another acquisition.
    • Sources tell Brazil Journal that 3G is raising between $8B and $10B for the new deal.
    • Gainers on the day include Mondelez International (MDLZ +4%), G. Will Food-International <<WILC,>> Kraft Heinz (KHC +2.8%), Pilgrim's Pride (PPC +2.9%), Lifeway Foods (LWAY +1.2%), Pinnacle Foods (PF +0.8%), Tyson Foods (TSN +1.4%), Seneca Foods (SENEB), Campbell Soup (CPB +3.6%), General Mills (GIS +3%), Kellogg (K +2.8%), Flower Foods (FLO +1.4%) and J.M. Smucker (SJM +1.1%).
    • The PowerShares Dynamic Foods & Beverage ETF (NYSEARCA:PBJ) is up 1.93% on the day.
    Nov. 8, 2016, 2:58 PM | 41 Comments
  • Nov. 1, 2016, 8:22 AM
    • Kellogg (NYSE:K) delivers a Q3 earnings beat on a stronger operating margin. Favorable tax rates during the quarter helped to boosted results.
    • Sales growth by segment: U.S. Mornings Foods -3.85 to $762M, U.S. Snacks +0.1% to $795M, U.S. Specialty +1.1% to $281M, North America Other -2.2% to $426M, Europe -5.4% to $628M, Latin America -2.2% to $202M, Asia Pacific +5.4% to $235M.
    • Looking ahead, the company reiterates plans to strike high single-digit growth in currency-neutral comparable operating profit in 2017 (ex-Venezuela).
    • Previously: Kellogg beats by $0.09, misses on revenue (Nov. 1)
    • K +0.81% premarket to $75.74.
    Nov. 1, 2016, 8:22 AM | 1 Comment
  • Nov. 1, 2016, 8:03 AM
    • Kellogg (NYSE:K): Q3 EPS of $0.96 beats by $0.09.
    • Revenue of $3.25B (-2.1% Y/Y) misses by $30M.
    • Press Release
    Nov. 1, 2016, 8:03 AM
  • Oct. 31, 2016, 5:30 PM
  • Oct. 31, 2016, 10:20 AM
    • Susquehanna compares valuations on the food stocks in its coverage universe. The food stock check by the firm arrives after M&A activity has driven up share prices on many names.
    • The list of food stocks still trading with a price-earnings ratio below 20 has narrowed to General Mills (NYSE:GIS), Hain Celestial (NASDAQ:HAIN), Kellogg (NYSE:K) and J.M. Smucker (NYSE:SJM).
    • J.M. Smucker is the food stock that trades with the lowest PE in comparison to the sector average, while Hain Celestial trades the lowest compared to its historic average.
    • TreeHouse Foods (NYSE:THS) has the most attractive adjusted EV/EBITDA mark (14.8X).
    • General Mills and Kellogg have the most generous dividend yields, 3.0% and 2.8% respectively.
    • Analyst Pablo Zuanic published the food stock update.
    • Previously: Rally time for food stocks (Oct. 28)
    Oct. 31, 2016, 10:20 AM | 1 Comment
  • Oct. 21, 2016, 10:18 AM
    • Kellogg (NYSE:K) declares $0.52/share quarterly dividend, in line with previous.
    • Forward yield 2.8%
    • Payable Dec. 15; for shareholders of record Dec. 1; ex-div Nov. 29.
    Oct. 21, 2016, 10:18 AM
  • Oct. 13, 2016, 7:13 AM
    Oct. 13, 2016, 7:13 AM
  • Oct. 13, 2016, 6:58 AM
    • Kellogg Company (NYSE:K) announces it acquired Ritmo Investimentos for R$1.38B ($429M). Ritmo is the controlling shareholder of Brazilian food group Parati S/A, Afical Ltda and Pádua Ltda.
    • The acquisition marks the company's largest M&A move ever in Latin America.
    • Parati Group offers a wide range of iconic regional brands, including Parati, Pádua, Minueto, Zoo Cartoon and Hot Cracker biscuits.
    • "With its outstanding portfolio of popular consumer brands, Parati Group is an excellent strategic fit for Kellogg and our business in Latin America," says CEO John Bryant.
    • Source: Press Release
    Oct. 13, 2016, 6:58 AM
  • Sep. 27, 2016, 7:23 AM
    • Shares of Kellogg (NYSE:K) are on watch after Credit Suisse removes the stock from its U.S. Focus List.
    • The investment firm keeps an Outperform rating and lofty $94 price target on the food stock.
    • The food sector has benefited this year from a generous M&A premium across many of the major names.
    Sep. 27, 2016, 7:23 AM
  • Sep. 20, 2016, 9:54 AM
    • Kellogg (K +0.1%) announced a voluntary recall of approximately 10K cases of Kellogg's Eggo  Nutri-Grain Whole Wheat Waffles due to potential Listeria contamination.
    • The company says no other Eggo products are impacted by the recall.
    • No reports of illness have been received so far.
    • Source: Press Release
    Sep. 20, 2016, 9:54 AM