Kellogg Co. (K) – Strategic Spinoff to target focused growth in FY24

Kellogg Co. (K) (Q1FY23)

Introduction

Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

The company offers its products under the Kellogg’s, Cheez-It, Pringles, Austin, Parati, RXBAR, Kashi, Bear Naked, Eggo, Morningstar Farms, Choco Krispies, Crunchy Nut, Nutri-Grain, Special K, Squares, Zucaritas, Sucrilhos, Pop-Tarts, K-Time, Sunibrite, Split Stix, Be Natural, LCMs, Coco Pops, Frosties, Krave, Rice Krispies Treats, Kashi Go, Crunchy Nut, Rice Krispies Squares, Incogmeato, Veggitizers, and Gardenburger brand names. It sells its products to retailers through direct sales forces, as well as brokers and distributors.

Highlights

The North America cereal business is experiencing a rapid recovery with double-digit organic net sales growth. The cereal category in the U.S. is growing strongly, leading to an increase in market share for key brands like Rice Krispies, Special K, Raisin Bran, and Frosted Flakes.

Stock performance

Kellogg stock gave returns of 1.9% and -5.5% in the period of three months and one year. The stock has a 52-week high of $77.17 and a 52-week low of $63.74. The stock gave returns of 3.5% and CAGR of 1.2% over a period of three years.

The stock had a 200-Day Moving Average of $69.34 and a 50-Day Moving Average of $67.97.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– Discounted Cash Flow Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages : 36

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