MDLZ - Kellanova: A Tasty Opportunity When You Consider Hidden Growth

2024-06-27 04:31:40 ET

Summary

• Kellanova, a global snack and emerging markets focused company, shows signs of progress with attractive revenue growth and improved profitability.
• Despite underperforming the market, Kellanova's revenue and profitability metrics have shown improvement, with expectations for further growth in 2024.
• The valuation of Kellanova is not cheap, but appealing for a high-quality food operator, with a decent overall assessment compared to similar firms.

Back in early October of 2023, I wrote an article discussing the separation of the company that used to be known as Kellogg. Ultimately, the firm split up into two separate businesses. One of these is now known as WK Kellogg Co ( KLG ), which is the business that now serves as the North American cereal operations of the former conglomerate. The other enterprise to split off from this came to be known as Kellanova ( K ). And it emphasizes the global snack operations, as well as certain key growth markets, of the brands that used to be owned by Kellogg....

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