55.06 0.00 (0.00%)
After hours: 4:30PM EDT
|Bid||55.05 x 900|
|Ask||56.24 x 800|
|Day's Range||54.65 - 55.44|
|52 Week Range||51.34 - 74.98|
|Beta (3Y Monthly)||0.85|
|PE Ratio (TTM)||16.29|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||2.24 (4.04%)|
|1y Target Est||58.82|
Kellogg Company (NYSE: K ) announced a second restructuring program and around 150 employees In North America will be leaving as part of the reorganization. The company will take a pretax charge of about ...
said in a Securities and Exchange Commission filing that it plans to take a $35 million pretax charge related to its plan to divest some of its North American businesses. The company's reorganization plan will result in cumulative pretax charges of about $35 million, including $20 million in employee-related charges tied to severance and other termination benefits while the other $15 million will primarily consist of third-party consulting fees. Kellogg previously announced that it was divesting some of its cookies, fruit and fruit-flavored snacks, pie crusts and ice cream cones businesses to Ferrero International S.A. The divestiture is expected to close at the end of July.
Kellogg Co. announced a reorganization plan on Tuesday that will mostly affect its North American operations. The move comes ahead of the sale of the company's selected cookies, fruit and fruit-flavored snacks, pie crusts and ice cream cones businesses to Ferrero International SA, which is expected to close the end of July. "The reorganization plan is designed to simplify the organization that supports the remaining North America business after the divestiture and related transition," the company said in a regulatory filing. "The overall project is expected to be substantially completed by December 31, 2020." Kellogg is expecting to book pretax charges of about $35 million, including about $20 million to cover the costs of severance and other benefits. Shares were up about 0.5% premarket, but have fallen 0.8% in 2019 through Monday, while the S&P 500 has gained 15%.
The cereal maker said in November it was exploring options to sell its cookies and fruit snacks units in a bid to sharpen focus on its core segments in North America. Last month, the company also said it was reorganizing its European business that would result in charges of about $50 million.
"This transaction will result in a smaller, more focused (North American) portfolio with fewer brands... requiring a simpler, more agile and rightsized organization," said Kris Bahner, senior vice president for Global Corporate Affairs. It said it expected the restructuring moves in Europe and North America to be completed by end of 2020.
Kellogg Co NYSE:KView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low and declining Bearish sentimentShort interest | PositiveShort interest is low for K with fewer than 5% of shares on loan. Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on June 4. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding K are favorable, with net inflows of $12.09 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. K credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
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FreightWaves and Convoy teamed up to present the first annual Shipper of Choice Award to a top-notch manufacturer, distributor or retailer. The Kellogg Company (NYSE: K) took home the first place trophy during Transparency19 earlier this year. The first-of-its-kind award was created to recognize shippers committed to eliminating inefficiencies from the supply chain and aiming to be excellent partners for their carriers.
In a new interview, KIND CEO Daniel Lubetzky blasted food giants that sell processed food, saying that Americans end up “paying for it at the hospital.”
BATTLE CREEK, Mich., June 5, 2019 /PRNewswire/ -- In celebration of World Environment Day, The Nature Conservancy shares its expanded collaboration with Kellogg Company to support sustainable farm efforts. Improved water quality, reduced soil erosion, better crop yields, lower carbon footprint – the reasons to equip farmers with the tools they need to adopt sustainable agriculture practices are clear. At The Nature Conservancy (TNC), we apply science, practice, and policy to develop practical solutions for sustainable food production.
After years of fluctuations, Procter & Gamble (NYSE:PG) finally broke out of its range in 2018. Procter & Gamble stock surged higher by more than 50% at its peak in a one-year period.Source: Mike Mozart via Flickr (Modified)This was the surge that took it out of the trading range it had maintained for six years. Still, after that move, many now wonder whether the stock will move higher or plateau.PG stock has long attracted income-oriented investors. Due to its long streak of dividend increases, PG has remained attractive to some even amid strategic pivots and competitive threats from emerging e-commerce players. However, valuations and headwinds coming from outside of the business could weigh on Procter & Gamble and the industry in general.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Big Dividend Stocks to Buy as Yields Plunge PG Stock and StabilityLong-term holders should continue to benefit from a boring, but stable stock. Profit growth remains modest but also steady. Procter & Gamble also belongs to a short list of equities called "dividend aristocrats." These stocks have increased dividends annually for at least 25 years. In the case of PG stock, the streak has run for 62 years. I do not see any apparent reasons that will not continue.Further, PG remains vibrant even though its competitive moat consists of shelf space and name recognition. While consumers recognize Tide laundry detergent and Pampers diapers, they can choose worthy alternatives not produced by PG. Moreover, the rise of ecommerce threatens the importance of shelf space. I do not see sales falling off of a cliff, but that can present a headwind to company growth.Consequently, I see Procter & Gamble stock as a "don't buy." I would add that investors who bought 13 months ago have seen the PG stock price rise by as much as 55%. That group might want to consider selling. Procter & Gamble's New FocusTraders may have finally decided they like PG's strategic moves. Procter & Gamble remained rangebound for most of the decade as it restructured. In 2012, it sold Pringles to Kellogg (NYSE:K), exiting the food business. It has also exited other product lines in subsequent years.Despite these sales, acquisitions also continue. It also bought the consumer health division of Merck (NYSE:MRK) in 2018. Effective in July, it will employ what it calls a "simpler corporate structure" made up of six business units.Such strategic pivots relieve worries about a weak competitive moat. They should keep Procter & Gamble stock stable. Moreover, peers such as Kimberly-Clark (NYSE:KMB) and Colgate Palmolive (NYSE:CL) trade at similar multiples, offering little advantage over PG stock. Procter & Gamble Stock Is PriceyStill, for all of the income potential Procter & Gamble stock offers, it now appears overbought. The price-to-earnings (PE) ratio at around 24.5 exceeds its long-term averages. It's also a lot to pay for a company expected to grow earnings by 5.7% this year. That estimate could fall if tariff-related issues raise input and manufacturing costs.Moreover, while the dividend yield of 2.8% stands well above S&P 500 averages, PG has historically offered higher payouts.However, investors can find lower-cost dividend aristocrats for income. Equities such as AbbVie (NYSE:ABBV) and AT&T (NYSE:T) offer deeper competitive moats and higher dividend yields at much lower PE ratios.I expect that the rising payouts will attract many to Procter & Gamble. However, income-oriented investors can find both higher payouts and fewer competitive threats outside of the consumer defensive names. Final Thoughts on PG stockHigh multiples may hamper the near-term growth of not only Procter & Gamble but that of consumer defensive stocks in general. Despite strategic threats, PG should remain stable and continue to generate the cash flows that will fuel dividend growth for the foreseeable future.However, new buyers will have to pay close to 25 times earnings for an equity expecting profit growth in the mid-single-digits at best. In fairness, its most direct peers face a similar situation. Also, if one must buy a consumer defensive stock right now, I would recommend PG stock.Still, income-oriented investors seeking dividend aristocrats can find lower multiples and higher payouts outside of the consumer defensive sector. Rather than buying Procter & Gamble stock at these levels, investors should seek options with more profit potential.As of this writing, Will Healy is long ABBV stock. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Sell Impacted by the Mexican Tariffs * 6 Big Dividend Stocks to Buy as Yields Plunge * The 10 Biggest Announcements From Apple WWDC 2019 Compare Brokers The post Investors Aren't Likely to Clean up on Procter & Gamble Stock appeared first on InvestorPlace.
BATTLE CREEK, Mich., June 4, 2019 /PRNewswire/ -- In celebration of Kellogg Company's next-generation Kellogg's® Better Days global commitment, Peter Bakker, President and CEO, World Business Council for Sustainable Development and Steve Cahillane, Chairman and CEO Kellogg Company, share how businesses must collaborate to achieve the United Nations Sustainable Development Goals. With just over 4,000 days until the end of 2030, we must move quickly and collaboratively to achieve the United Nations' (UN) Sustainable Development Goals (SDGs) that are "of critical importance for humanity and the planet." 4,000 days means 4,000 opportunities, creating no excuse for avoiding this responsibility or not achieving the Goals.
DETROIT, June 3, 2019 /PRNewswire/ -- Today, Kellogg Company unveiled its ambitious next-generation commitment to address global food security aligned with the United Nations' Sustainable Development Goals (U.N. SDGs) and launched its 11th annual Corporate Responsibility Report, Creating Better Days. In a keynote address at Sustainable Brands '19, Chairman and CEO Steve Cahillane announced that the company is taking its corporate responsibility work and impact to the next level to drive positive change for 3 billion people, communities worldwide and the planet by the end of 2030. "Our visionary founder, W.K. Kellogg, was focusing on sustainability and communities when he founded our company more than 100 years ago.
Plant-based alternative meat company Beyond Meat is up about 300% from its IPO price, helping the company stand out in a crowded field.
The snack market is booming, bringing in a whopping $605 billion in global sales last year, and there are even more growth opportunities ahead, according to Citi.
My family has a long and storied history of military service – with recognized service in major military conflicts including Persian Gulf War, Vietnam War, World War II and World War I. I had the privilege of joining the U.S. Air Force after I graduated from high school and I look back on my time in the military with pride that I could serve our country. As Memorial Day approaches, my thoughts turn to those who paid the ultimate sacrifice and died in military service. As an enlisted veteran, I had work experience but had not yet earned a college degree.
A New York based nutritionist says that a greasy and carb-filled pizza slice is healthier than your favorite breakfast cereal to eat in the morning. Yahoo Finance's Adam Shapiro and Julie Hyman discuss with the panel.