K - WK Kellogg: Undervalued Dividend With Solid Upside Potential

2024-03-13 08:15:00 ET

Summary

• WK Kellogg has been undervalued since its split from parent company Kellanova in September last year.
• Unlike some spinoffs, KLG carries a strong balance sheet and pays a respectable and well-covered dividend.
• KLG's focus on modernizing its supply chain and introducing innovative products positions it for potential growth in 2024 and beyond.

There’s value to be had in spinoffs sometimes, especially since the market needs time to digest performance of the entity on a standalone basis and when the said entity carries the stigma of being unwanted by its former parent....

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