Fri, Oct. 21, 10:18 AM
Thu, Oct. 13, 7:13 AM
- Kellogg (NYSE:K) says it will cut its 2016 buyback target to a range of $450M-$550M from $700M-$750M to help fund its acquisition of Parati Group.
- Shares of Kellogg haven't started trading yet in the premarket session.
- Previously: Kellogg lands Parati in largest Latin America M&A deal ever (Oct. 13)
Thu, Oct. 13, 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
Tue, Sep. 27, 7:23 AM| Tue, Sep. 27, 7:23 AM
Tue, Sep. 20, 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
Wed, Sep. 7, 11:22 AM
- IRI scanner data indicates sales at Kellogg (K -2.2%) fell 2.1% in the last 12 weeks after falling 2.7% in Q2 and 2.2% in Q1.
- The company saw the most weakness in the snacks/granola category, with a 8.6% drop over the last 12 weeks.
- Kellogg did gain some ground on General Mills in cold cereal over the tracking period, -0.4% sales growth vs. -2.5% at GIS.
Fri, Aug. 12, 10:50 AM
- Kellogg (K +0.2%) will keep with its Olympics tradition by featuring Simone Biles on boxes of Special K Red Berries.
- Biles cruised to a gold medal in the women's gymnastics individual all-around and was part of the U.S. team that also took gold.
- Landing the popular U.S. gymnasts over General Mills is a bit of a PR win for the company.
Thu, Aug. 4, 8:17 AM
- Kellogg (NYSE:K) pulled out an operating profit in every segment during Q2, despite a drop in total revenue.
- Operating profit by segment: U.S. Mornings Foods $165M, U.S. Snacks $69M, U.S. Specialty $60M, North America Other $47M, Europe $68M, Latin America $20M, Asia Pacific $12M.
- The company's performance in cereal was solid during the quarter, with all six core brands holding market share steady.
- Kellogg raised full-year EPS guidance to $4.11-$4.18, from $4.00-$4.07 prior. On a longer view, the company expects to expand profit margin by 350 bps through 2018.
- Previously: Kellogg EPS in-line, misses on revenue (Aug. 4)
- K +1.13% premarket to $82.00.
Thu, Aug. 4, 8:02 AM
Wed, Aug. 3, 5:30 PM
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Wed, Aug. 3, 8:46 AM
- Susquehanna analyst Pablo Zuanic issues an earnings preview on four food stocks ahead of their reports.
- Kraft Heinz (NASDAQ:KHC): "We are taking our estimates ahead of the 2Q print as in hindsight our assumption for “only” $159M yoy EBITDA growth seems too conservative (consensus assumes +$328M yoy growth), and now expect $350M in EBITDA yoy growth. So our 2Q EPS is now 80c vs. 69c before (consensus is at 73c)."
- TreeHouse Foods (NYSE:THS): "We are 2c below consensus for 2Q16 (52c vs. 54c and guidance of 50-55c), and our full year EPS of $3.05 is below consensus of $3.07 and guidance of $3.05-$3.10. But we think the risks are more to the upside than downside, especially keeping in mind that 2Q guidance gave management a significant buffer (guidance implies 2H16 EPs being 2x 1H16)."
- Monster Beverage (NASDAQ:MNST): "Our 97c 2Q estimate is 6c below consensus, with 4c of the projected miss being top line related. According to the scanner data, Monster brands sales in the US continue to decelerate (+7% in 2Q16, 10% in 1Q16 and 4Q15, and low-teens 1Q-3Q15), and this should hurt sentiment."
- Kellogg (NYSE:K): "Although we project sales to decline at a worse pace in 2Q than 1Q, the stock may trade up as we see a 4c beat (1c on sales, 1c on EBIT margins), with sales slightly ahead of consensus, and good quality margin trends (accelerated gross margin gains, with greater reinvestment on turnaround efforts). We model 95c vs. consensus 91c."
- Zuanic has KHC and THS rated at Positive, while K and MNST are set at Neutral.
Fri, Jul. 29, 2:24 PM
Thu, Jul. 21, 12:41 PM
- Credit Suisse issues some reassuring words for Kellogg (K +0.5%) investors to hang their hats on.
- The investment firm thinks shares can go much higher even if M&A isn't in the picture. In particular, the food giant is seen improving margins in the international division.
- Kellogg is rated at Outperform by CS and assigned a price target of $94 (the Kellogg all-time high is $87.16).
Wed, Jul. 20, 10:11 AM| Wed, Jul. 20, 10:11 AM | 2 Comments
Thu, Jul. 14, 8:08 AM| Thu, Jul. 14, 8:08 AM | 1 Comment
Mon, Jul. 11, 2:12 PM
- A bill requiring food companies to label GMO ingredients was approved by the U.S. Senate by a 63 to 30 vote and now heads to the House of Representatives.
- The negotiated bill requires food companies to label genetically modified food by a phrase, symbol on the package, or a bar code that can be scanned by smartphones.
- The Department of agriculture still has two years to write the precise labeling rules if the House approves the bill.
- The passage of the bill is seen as a positive for the food sector as the alternative of having to adhere to state-by-state rules could create operational chaos for national sellers.
- Food stocks: SENEA, SENEB, THS, OTCPK:NCRA, CPB, MDLZ, GIS, OTCPK:NSRGY, FLO, CAG, DF, SJM,DF, ANFI, JJSF, WWAV, UL, OTCQX:DANOY, OTCPK:PLATF, POST, K, PEP, DMND, PF, HAIN, KO, BETR, KHC, WILC, PPC, PF, LWAY, HRL, TSN, DTEA, SAFM, BRID.