2023-04-10 23:08:30 ET
Summary
- Kellogg manufactures and sells snacks and convenience foods. The company sells its products under various brand names, including Kellogg's, Cheez-It, Pringles, and Nutri-Grain.
- We see some headwinds as the company attempts to transition its brands towards more healthy ingredients as consumer trends change.
- The company has done well to grow its snacks business as consumers increase their demand for convenience foods.
- Kellogg's financial performance is attractive but inferior to peers due to pricing/cost pressures in recent years.
- Kellogg's valuation looks quite attractive, and with sustainable distributions, we consider the stock a soft buy.
For further details see:
Kellogg: Nicely Positioned For Financial Improvement