Edition:
United States

Kellogg Co (K)

K on New York Consolidated

61.15USD
20 Oct 2017
Change (% chg)

$-0.55 (-0.90%)
Prev Close
$61.70
Open
$61.66
Day's High
$61.75
Day's Low
$60.96
Volume
1,243,593
Avg. Vol
2,512,079
52-wk High
$78.37
52-wk Low
$60.96

Latest Key Developments (Source: Significant Developments)

Northern Trust repo​rts 20.8 pct passive stake in Kellogg
Tuesday, 10 Oct 2017 11:45am EDT 

Oct 10 (Reuters) - Northern Trust Corp::Northern Trust Corp repo​rts a 20.8 percent passive stake in Kellogg Co as of September 30, 2017 - SEC filing.  Full Article

Kellogg to acquire Chicago Bar Company, maker of RXBAR
Friday, 6 Oct 2017 09:00am EDT 

Oct 6 (Reuters) - Kellogg Co : :Kellogg Co - ‍that it has entered into an agreement to acquire Chicago Bar Company LLC, maker of RXBAR​.Kellogg Co - ‍purchase price is $600 million, or approximately $400 million net of tax benefits​.Kellogg Co - ‍excluding one-time costs, acquisition is expected to be immaterial to eps in 2017 and 2018​.Kellogg Co - ‍RXBAR to continue to operate independently as a standalone business.Kellogg Co - from deal ‍expect multiple on projected 2018 ebitda to be in range of 12-14x, inclusive of tax benefits to purchase price​.  Full Article

Kellogg Co - size of the board will be increased from 13 to 14 members
Thursday, 28 Sep 2017 09:32am EDT 

Sept 28 (Reuters) - Kellogg Co :Kellogg Co - size of the board will be increased from 13 to 14 members.Kellogg - Steve Cahillane’s annual compensation includes annual base salary of $1.3 million.Kellogg Co - ‍Cahillane's annual compensation includes target annual incentive under annual incentive plan of 150% of annual base salary.Kellogg Co - ‍Cahillane's annual compensation includes target annual long-term equity grant of $7 million for 2018‍​.  Full Article

Steven Cahillane named Kellogg Company CEO as John Bryant retires
Thursday, 28 Sep 2017 08:35am EDT 

Sept 28 (Reuters) - Kellogg Co :Steven A. Cahillane named Kellogg Company CEO as John A. Bryant retires.Kellogg Co - ‍company reaffirms 2017 financial guidance​.Kellogg Co - Cahillane most recently served as president and CEO of Nature's Bounty co​.Kellogg Co - ‍company confirmed that its transition out of direct store delivery remains on track​.Kellogg Co - ‍Bryant will continue as executive chairman of board until March 15, 2018​.Kellogg co - Cahillane will also join co's board of directors, effective Oct 2 2017​.  Full Article

Soros Fund Management LLC dissolves share stake in Alphabet, Amgen, American Airlines ‍​
Monday, 14 Aug 2017 05:11pm EDT 

Aug 14 (Reuters) - Soros Fund Management LLC::Soros Fund Management LLC dissolves share stake in Alphabet Inc class A shares ‍​.Soros Fund Management LLC dissolves share stake in Amgen Inc.Soros Fund Management LLC dissolves share stake in American Airlines Group Inc.Soros Fund Management ups share stake in Kraft Heinz Co by 95.4 percent to 460,733 shares.Soros Fund Management cuts share stake in Scripps Networks Interactive Inc by 93.7 percent to 4,000 class A shares.Soros Fund Management takes share stake of 272,198 shares in Kellogg Co.Soros Fund Management takes share stake of 198,500 shares in Staples Inc.Soros Fund Management says change in holdings are as of June 30, 2017 and compared with the previous quarter ended as of March 31, 2017.  Full Article

Kellogg on conf call- In-store promotion activity was reduced in Q2
Thursday, 3 Aug 2017 10:15am EDT 

Aug 3 (Reuters) - Kellogg Co :On conf call - already shipping through warehouse to all of our customers.Volume sales fell due to broad softness in consumption in U.S. And Pringles promo activity stemming from our Q1 pricing negotiations in Europe, which lingered into Q2.Expect emerging markets growth to pick up in second half.In-Store promotion activity was reduced in Q2.Had sharp declines in snacks volumes sold on promotion, sizable increases in average prices, driven by us and our customers wanting to mitigate big shipment swings during transition in distribution.Europe expected to remain challenging in near term.Cereal category remained softer than expected in Q2.  Full Article

Kellogg Q2 comparable earnings per share $0.97
Thursday, 3 Aug 2017 08:00am EDT 

Aug 3 (Reuters) - Kellogg Co ::Kellogg Company reports 2017 second quarter results.Qtrly reported earnings per share $0.80; Qtrly comparable earnings per share $0.97.Reaffirms 2017 guidance‍​.Qtrly reported net sales $3,187 million versus $3,268 ‍​million.Qtrly comparable net sales $3,137 million versus $3,261‍​ million.Qtrly reported net sales for U.S. morning foods $679 million versus $727 million.FY2017 earnings per share view $3.91, revenue view $12.66 billion -- Thomson Reuters I/B/E/S.Qtrly reported net sales for U.S. snacks $803 million versus $803 million.Q2 revenue view $3.16 billion -- Thomson Reuters I/B/E/S‍​.Q2 earnings per share view $0.92 -- Thomson Reuters I/B/E/S.  Full Article

Avon Products appoints Jonathan Myers chief operating officer
Tuesday, 20 Jun 2017 04:01pm EDT 

June 20 (Reuters) - Avon Products Inc -:Avon Products, Inc. appoints Jonathan Myers as chief operating officer.Avon Products Inc says ‍most recently, Jonathan served as kellogg's vice president, western european markets, and managing director, uk and ireland​.Avon Products Inc - James Scully, Avon's current executive vice president and chief operating officer, will be leaving company on october 1, 2017.Avon Products - Fernando Acosta, Avon's executive vice president and chief marketing and social selling officer, will be leaving co, Nov 1st 2017.  Full Article

Kellogg company reports 2017 first quarter results
Thursday, 4 May 2017 08:00am EDT 

May 4 (Reuters) - Kellogg Co : :Kellogg company reports 2017 first quarter results.Kellogg Co - qtrly reported diluted earnings per share $ 0.74.Says company reaffirms its guidance for currency-neutral operating profit and earnings per share, as well as for cash flow.Kellogg Co - qtrly comparable diluted earnings per share $ 1.06.Kellogg Co qtrly reported net sales $3,254 million, down 4.1 percent.Kellogg Co - qtrly U.S. Morning foods net sales $719 million versus $767 million.Says " got off to a slow start on net sales, as mentioned previously, but we expect sequential improvement in coming quarters".Q1 earnings per share view $0.99, revenue view $3.28 billion -- Thomson Reuters I/B/E/S.Kellogg Co - on track toward full-year 2017 forecasts for currency-neutral comparable operating profit, earnings and cash flow.Kellogg Co - qtrly U.S. snacks net sales $781 million versus $832 million.Kellogg Co - qtrly currency-neutral comparable eps $ 1.09.Kellogg Co - Q1 reported, currency-neutral comparable net sales decreased, owing to softness in underlying consumption, particularly early in quarter.Kellogg co - "U.S. Morning foods, U.S. Snacks, and Europe region got off to a soft start to the year".  Full Article

Kellogg executive says expects to see sequential improvement in Q2 - conf call
Thursday, 4 May 2017 07:40am EDT 

May 4 (Reuters) - :Kellogg CEO - experienced reduction in trade inventory in Q1 due to early shipments in Q4 in categories in U.S. - conf call.Kellogg CEO - encountered customer-specific interruptions in Q1, related to price pack changes on Pringles to cover input costs, product reformulations, currency - conf call.Kellogg executive - "Q1 was not the norm", expect to see sequential improvement in Q2 with further improvement coming in the second half - conf call.  Full Article

BRIEF-Kellogg declares regular dividend of $0.54 per share

* Kellogg Company declares regular dividend of $0.54 per share Source text for Eikon: Further company coverage: