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Kellogg Company (K)

  • Oct. 3, 2014, 11:16 AM
    • More M&A murmurings and a decent mix of economic news is enough to give foods stocks a lift.
    • Sector leaders: Tyson Foods (TSN +1.8%), Pilgrim's Pride (PPC +5.1%), Sanderson Farms (SAFM +4.3%), Flower Foods (FLO +1.8%), Post Holdings (POST +2.1%) and Kellogg (K +1.1%).
  • Oct. 2, 2014, 6:55 PM
    • Kellogg (NYSE:K) CEO John A. Bryant is planning to meet in London with British snack/cookie maker United Biscuits about a ~£2B ($3.2B) acquisition, the WSJ reports.
    • At the same time, United is said to be prepping IPO documents, thus giving P-E owners Blackstone and PAI Partners a second exit strategy. Blackstone and PAI bought United for £1.6B in 2006.
    • United had 2013 sales of £1.1B, and claims a quarter of the British cookie market. However, growth has been weak in recent years.
    • K -0.4% AH.
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  • Sep. 30, 2014, 10:29 AM
    • Shares of Kellogg (K -0.8%) are under pressure after Morgan Stanley takes its rating on the food stock down to Underweight from Equal Weight.
    • The investment firm thinks the Special K project touted by the company isn't delivering the expected returns.
  • Sep. 26, 2014, 8:59 AM
    • Kellogg (NYSE:K) says it will remove Optivita from its product list in the U.K. due to weak demand.
    • Sales of Optivita have fallen off even more than the broader cereal category.
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  • Sep. 22, 2014, 3:00 PM
    • Kellogg (K -0.6%) is one of the first round bidders for United Biscuits, sources tell The Wall Street Journal.
    • The Ontario Teachers' Pension Plan and Turkish firm Ulker Biskuvi Sanayi AS were also involved in the bidding for the private equity-owned food company.
    • The offer prices for United Biscuits is reported to be in the neighborhood of $3.27B.
    | 1 Comment
  • Sep. 17, 2014, 11:31 AM
    • Post (POST -2%) and Kellogg (K -1.9%) slide after General Mills delivers an underwhelming FQ1 report.
    • Pricing pressure and low cereal volumes are concerns within the group.
    • It's a tough day throughout the food sector with investors also a bit skittish on Flower Foods (FLO -0.9%), TreeHouse Foods (THS -0.5%), and Hain Celestial (HAIN -1%).
  • Sep. 11, 2014, 2:17 PM
    • The cereal industry is undergoing a "death by a thousand cuts" with no single competing category or product delivering a knockout blow - but volume in the U.S. remaining stuck in a downward trend.
    • Though Greek yogurt, the smoothie craze, fad diets, and the explosion of organic brands are all major headaches for cereal sellers, it might be the ambivalent attitude of millennials that proves to be the biggest challenge.
    • A recent swing by Kellogg (NYSE:K), Post Holdings (NYSE:POST), and General Mills (NYSE:GIS) to wax nostalgic with marketing campaigns hasn't delivered as strong as results as anticipated and new product innovation (protein, gluten-free, no-fat) has been somewhat hit and miss.
    • The battle for breakfast: An aggressive push by fast-food and fast-casual restaurants as well as the appeal of hit-and-run breakfasts from convenience-store chains has also impacted cereal sales, according to analysts.
  • Sep. 2, 2014, 7:02 AM
    • Kellogg (NYSE:K) is interested in acquiring a stake in Bisco Misr, according to Reuters.
    • The company is evaluating a bid of 51% to all 100% of the shares of the Egyptian snack maker.
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  • Aug. 6, 2014, 3:24 PM
    • Kellogg (K +2.5%) is considering an offer for United Biscuits in the £2B range ($3.37B), according to reports from the U.K.
    • Sources indicate the company is working with Barclays on how to structure an offer.
    • The acquisition could give Kellogg new growth channels.
    • United Biscuits is held by P-E firms Blackstone Group and PAI Partners.
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  • Jul. 31, 2014, 8:19 AM
    • Kellogg (NYSE:K) meets analyst estimates with its Q2 report, although both sales and profit were down from the year-ago period.
    • Brand-building costs and lower volume impacted margins during the period.
    • Q2 sales growth: U.S. Mornings Foods -5% to $820M; U.S. Snacks -2.6% to $893M; U.S, Specialty +1.5% to $276M; Europe +6.8% to $772M; Latin America +5.3% to $320M; Asia Pacific -1.6% to $243M.
    • The company lowers FY14 EPS guidance to $3.91-$3.99 vs. $3.97-$4.05 prior.
    • K -2.2% premarket
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  • Jul. 31, 2014, 8:02 AM
    • Kellogg (NYSE:K): Q2 EPS of $1.02 in-line.
    • Revenue of $3.68B (-0.8% Y/Y) misses by $50M.
    • Press Release
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  • Jul. 29, 2014, 11:37 AM
    • Kellogg (K -0.3%) announces it will close a plant in Georgia by the end of 2015.
    • The move is part of an efficiency drive by the company to consolidate production and shift some resources to developing markets in Asia.
  • Jul. 25, 2014, 1:54 PM
    • Kellogg Company (NYSE:K) declares $0.49/share quarterly dividend, 6.5% increase from prior dividend of $0.46.
    • Forward yield 3.00%
    • Payable Sept. 15; for shareholders of record Sept. 2; ex-div Aug. 28.
    | 1 Comment
  • Jul. 15, 2014, 11:29 AM
    • Food giants plan to adapt to the growing importance of the dollar store channel by offering smaller package sizes to consumers.
    • Companies such as Kellogg (K -1%) and General Mills (GIS) have found that products tailored to the dollar store demographic have a better chance of competing with private-label brands.
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  • Jul. 14, 2014, 9:09 AM
    • Nomura trims its estimates on Kellogg (NYSE:K) due to a forecast for weaker cereal sales.
    • Though Kellogg is far from a pure-play cereal stock, the category still accounts for over 20% of total sales.
    | Comment!
  • Jul. 2, 2014, 10:15 AM
    • Food companies should get ahead of the curve by creating gluten-free children's food in the U.S., says Mintel.
    • The market research firm notes a gluten-free trend in Europe which started with infant food has quickly moved into children's food.
    • Kellogg (K) is already in the game with a gluten-free version of Rice Krispies which has generating $9.2M in sales in two years.
    • Related stocks: POST, SJM, GIS, CPB, KRFT, MDLZ, PF.
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Company Description
Kellogg Co and its subsidiaries are involved in the manufacture and marketing of ready-to-eat cereal and convenience foods.