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The Kellogg Company (NYSE:K) Stock Overview: All You Need to Know About Kellogg’s

TABLE OF CONTENTS

The Kellogg Company (NYSE:K) Stock Overview: All You Need to Know About Kellogg’s

The Kellogg Company (NYSE:K) Stock Overview: All You Need to Know About Kellogg’s

Vantage Updated Updated Mon, 2024 January 29 07:41

History [1]

The Kellogg Company, founded in 1906 and headquartered in Battle Creek, Michigan, is an American multinational food manufacturing company. With operations spanning over 180 countries, Kellogg produces a portfolio of well-known cereals and convenience foods. From cereal brands such as Corn Flakes, Frosted Flakes, and Rice Krispies to snacks like Pringles, Cheez-It, and Nutri-Grain bars, Kellogg has a strong presence across various product categories. 

Before Kellogg was established, the wheat flake was first produced by Dr John Harvey Kellogg and Will Keith Kellogg in 1894 at the Sanitas Food Company. In 1914, the company began its first venture into international expansion to Canada. 

Kellogg’s recent ventures include the acquisition of RXBAR, a US-based nutrition bar company in 2017 and its partnership with Tolaram Group in West Africa in 2018 [2].  

Kellogg was the first cereal company to start off the cereal box prizes [3], but it wasn’t even in a box. In 1909, customers who bought two boxes of Kellogg’s Corn Flakes were given a copy of The Funny Jungleland Moving Pictures Book. In just four (4) years, Kellogg’s had distributed 2.5 million copies of the Jungleland Books [4].

When was Kellogg listed? [5]

Kellogg’s first IPO was on 9 January 1952. 415,600 shares were offered at $23.75 per share. Approximately 4,000 investors took part in the IPO. Today, Kellogg is trading at more than $60 per share as of 29 August 2023.

Kellogg’s Share Price 2023 [6]

Here is how Kellogg’s company has been performing on the stock market for the year 2023:

Kellogg stock

Chart 1: Kellogg’s share price performance for the year 2023

In 2023, Kellogg Co opened with a year high of 71.31 in January and peaked in May at 71.53. It has since been on a downward trend, plummeting to a low of 60.85 in August.

Kellogg Stock Price History (Annual) 
Year Average Stock Price Year Open Year High Year Low Year Close Annual % Change 
2022 67.341461.454774.866457.381469.989814.35%
2021 58.489356.244663.057352.043461.20777.46%
2020 58.715759.807064.329547.785156.9585-6.86%
2019 51.817648.187061.151044.770461.151026.08%
2018 55.678055.958563.115547.011148.5017-13.34%
2017 55.925958.589061.040548.074355.9668-4.92%
2016 60.164855.668568.534254.385858.86054.77%
2015 50.687649.400357.145546.969656.181613.80%
2014 47.437544.556551.567841.691649.370210.33%
2013 44.898340.494848.688740.217244.747012.60%

Table 1: History of Kellogg’s annual stock price

About the stock Kellogg 

Primary exchange: NYSE

Kellogg Stock Symbol: K

Country: U.S.

Currency: USD

Trading hours:

  • Main: 9.30am to 4pm ET, Mon to Fri
  • Pre-market: 4am to 9.30am
  • After-market: 4pm to 8pm

Trade Kellogg with Vantage today at $0 commissions.

Business Segment [7]

SectorIndustryMarket Cap(as of 3 July 2023)Revenue(2022)
Consumer StaplesConsumer Packaged Goods$23.1B$15.35B

Table 2: Kellogg’s business segment details

Kellogg operates within the packaged goods industry, specifically focusing on the production and distribution of breakfast cereals, snacks, and various convenience foods. 

As a prominent player in the sector, Kellogg has established itself as a household name. This is achieved through innovation and adapting to changing consumer trends; incorporating healthier alternatives into its product portfolio. 

Dividend history and yield [8]

Dividend Yield3.92%Annual Dividend$2.40Ex Dividend DateAugust 31, 2023Dividend Growth1.72%
Payout Ratio93.08%Payout PeriodQuarterlyNext Div PaymentSeptember 15, 2023Consecutive Growth19 Years

Table 3: Kellogg’s dividend yield in 2023

Kellogg has a history of consistent dividend payouts which are distributed quarterly every year. With a current dividend yield of 3.92%, it is an increase from its previous of 3.44%. The payout ratio is 93.08% indicating that Kellogg is distributing a significant portion of its earnings to shareholders in the form of dividends.

Stock split history [9]

Kellogg Co has undergone a series of five stock splits, with the initial split occurring in 1970 and the most recent one in 1997. All of Kellogg’s stock splits were executed as 2-for-1 splits. 

Stock split list [10]

DateSplit 
19702:1
19732:1
19862:1
19912:1
19972:1

Table 4: Kellogg’s stock split list 

Kellogg Company

What could affect Kellogg’s share price 

1. Debt [11][12]

Total Debt to Equity1 April2023I. Quarter31 Dec2022IV. Quarter2 Jul2022II. Quarter2 April2022l. Quarter1 Jan2022IV. Quarter
Y/Y Equity Change6.26%-7.66%13.69%10.7%15.32%
Y/Y Total Debt Change-2.54%-8.82%-6.92%-3.99%-9.29%
Total Debt to Equity MRQ1.521.391.541.71.65

Table 5 : Kellogg’s debt-to-equity figures for the year 2022 and the first quarter of 2023

In April 2023, Kellogg’s reduced its debt to USD$6.89 billion from USD$7.35 billion a year ago, offset by USD$356.0 million in cash, resulting in a net debt of approximately USD$6.54 billion. The company holds short-term liabilities of USD$6.00 billion and long-term liabilities of USD$8.15 billion, surpassing its cash and short-term receivables by a total of USD$12.0 billion. Despite a substantial market value of USD$22.3 billion, careful assessment of its debt repayment capacity is vital.

This could affect Kellogg’s share price negatively if investors’ confidence in the company to manage debt falters.

2. Kellogg Announces Increased Dividend Payment

On 25 August 2023, the board of Kellogg Company has announced that it will be paying investors a dividend of $0.60 during its next payment on 15 September 2023. This puts the company’s dividend yield at 3.9%, an increase from the previous dividend announcement.

This could be attractive to potential investors, particularly for those looking for dividend paying stocks, especially since Kellogg has had a consistent growth in its dividends for the past 19 years.

Why trade Kellogg stocks

1. Dividends

For the past 19 years, the Kellogg Company has been increasing its dividends. The company’s consistent dividend payouts indicate its financial stability and capacity to sustain a reliable dividend in the future.

Here is Kellogg’s dividend payout over the past 19 years:

YearDividend Payout (USD$)
20222.34
20212.31
20202.28
20192.26
20182.20
20172.12
20162.04
20151.98
20141.90
20131.80
20121.74
20111.67
20101.56
20091.43
20081.30
20071.20
20061.14
20051.06
20041.01

Table 6: Kellogg’s dividend payouts for the past 19 years

2. Kellogg Spin-Off 

In 2022, Kellogg announced its plans for a spin-off of its North America Cereal and Plant Base business. The reason behind this split is to allow the business to focus on smaller segments to maximise growth opportunities. While the splitting of large corporations is not uncommon, it is rare in the food production sector. 

The spin-off will result in three separate ventures:

  • Global Snacking Co., which is 80% of the business, is focusing on snack brands under its umbrella, including Pringles, Cheez-It and Eggos;
  • North America Cereal Co., focusing on ready-to-eat cereals like Frosted Flakes, Special K, Raisin Bran and Froot Loops; and 
  • Plant. Co., focusing on plant-based products anchored around the MorningStar Farms brand.

The spin-off empowers Kellogg to allocate resources strategically to its three distinct ventures. This enables tailored strategies, innovation, and marketing efforts for each segment, fostering agility in responding to consumer trends and enhancing market share and profitability.

3. Brand Stability

Kellogg’s well-established reputation as a household name signifies stability and resilience. The company has successfully navigated the consumer goods market for decades, adapting to changing trends and consumer preferences. This track record of stability is a testament to potential traders who are looking for a stock that is reliable and endures market pressures.

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References

  1. “Company Profile, Information, Business Description, History, Background Information on Kellogg Company — Reference for Business” https://www.referenceforbusiness.com/history2/91/Kellogg-Company.html  Accessed 24 June 2023
  2. “Recent Acquisitions — Kellogg Company” https://investor.kelloggs.com/ir-home/recent-acquisitions/default.aspx Accessed 24 June 2023
  3. “5 Things You Didn’t Know About Kellogg’s Corn Flakes — KXKX” https://kxkx.com/5-things-you-didnt-know-about-kelloggs-corn-flakes/#:~:text=Kelloggs%20were%20the%20first%20company,the%20Welsh%20word%20for%20rooster Accessed 24 June 2023
  4. “A Prize In Every Box: Premiums, Toys and Box-Tops —  CBC Radio” https://www.cbc.ca/radio/undertheinfluence/a-prize-in-every-box-premiums-toys-and-box-tops-1.2801839 Accessed 24 June 2023
  5. “FAQs — Kellogg Company” https://investor.kelloggs.com/resources/faqs/default.aspx#:~:text=back%20to%20top-,When%20was%20Kellogg’s%20IPO%3F,offered%20at%20%2423.75%20per%20share Accessed 24 June 2023
  6. “Kellogg – 39 Year Stock Price History | K — MacroTrends” https://www.macrotrends.net/stocks/charts/K/kellogg/stock-price-history#:~:text=T Accessed 24 June 2023
  7. “Kellogg Co Company Profile – Kellogg Co Overview — GlobalData” https://www.globaldata.com/company-profile/kellogg-co/ Accessed 24 June 2023
  8. “Kellogg Company (K) Dividend Date & History | — Koyfin” https://www.koyfin.com/company/k/dividends/#:~:text=Dividend%20Data,are%20paid%20out%20as%20dividends. Accessed 24 June 2023
  9. “Dividends — Kellogg Company” https://investor.kelloggs.com/stock/dividends/default.aspx Accessed 24 June 2023
  10. “Dividends — Kellogg Company” https://investor.kelloggs.com/stock/dividends/default.aspx Accessed 24 June 2023
  11. “Kellogg’s Total Debt to Equity — CSI Market” https://csimarket.com/stocks/singleFinancialStrength.php?code=K&Tte Accessed 24 June 2023
  12. “Kellogg (NYSE:K) Takes On Some Risk With Its Use Of Debt — Simply Wall St News” https://simplywall.st/stocks/us/food-beverage-tobacco/nyse-k/kellogg/news/kellogg-nysek-takes-on-some-risk-with-its-use-of-debt-1 Accessed 24 June 2023
  13. “Kellogg valuation ‘seriously attractive’ —  Bernstein By Investing.com” https://www.investing.com/news/stock-market-news/kellogg-valuation-seriously-attractive–bernstein-432SI-3111194 Accessed 24 June 2023
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