kellogg co (K) Key Developments
3G Capital Reportedly Eyes Entities For Acquisition
Jan 8 15
3G Capital Partners Ltd. intends to acquire food and beverage firms. The Wall Street Journal reported that 3G Capital is discussing the possibility to acquire Pepsico, Inc. (NYSE:PEP) or Campbell Soup Company (NYSE:CPB). 3G Capital might collaborate with Anheuser-Busch InBev SA/NV (ENXTBR:ABI), Wall Street Journal reported, citing people familiar with the matter. 3G Capital may also consider the acquisition of Kellogg Company (NYSE:K) and Kraft Foods Group, Inc. (NasdaqGS:KRFT).
Kellogg Company Announces Plans for Seven New Cereals Offerings
Nov 19 14
Kellogg Company announced plans for seven new cereals from some of the company's most-beloved U.S. brands, reflecting what many of today's consumers are seeking in their breakfast choice: great taste, innovative ingredients, more protein, less sugar, and options that are gluten-free. New Product Details: For people looking for good sources of protein as they manage their weight, Special K Protein Cinnamon Brown Sugar Crunch cereal provides a unique crunchy shape and 11 grams of protein with 1/2 cup skim milk. Special K Gluten Free cereal features delicious multi-grain flakes (corn, sorghum and rice) with a touch of brown sugar. It is a delicious option for people who are managing their weight, while also providing a good source of fiber which people who are avoiding gluten may lack in their diets. When a grain sprouts, it releases vital nutrients and enzymes. New Kashi Sprouted Grains Multi-Grain organic cereal is made with 100% sprouted grains in its satisfying whole grain flakes made with wheat, brown rice, oats, barley, spelt and amaranth. The cereal is USDA Certified Organic and Non-GMO Project Verified. Now it's one scoop of raisins and one scoop of cranberries in new Kellogg's Raisin Bran with Cranberries. The new cereal provides an excellent source of fiber and antioxidant vitamin E, along with a delicious tart and sweet flavor combination and crisp bran flakes. Parents will love new Froot Loops Bloopers cereal because it provides a good source of fiber, is made with whole grain, and has 10 grams of sugar per 28 g serving. It also has the fruity taste, and aroma that kids love. Two new flavors from Bear Naked Granola - Sea Salt Caramel Apple and Coconut Almond Curry - will awaken the senses and help fuel the most epic adventures. They are great in a bowl with milk or straight from the bag as a snack. These new cereals will begin arriving at grocery retailers in the fourth quarter of this year.
Kellogg Company Reports Consolidated Earnings Results for the Third Quarter Ended September 27, 2014; Reaffirms Earnings Outlook for the Full Year of 2014
Oct 30 14
Kellogg Company reported consolidated earnings results for the third quarter ended September 27, 2014. For the period, the company reported that it earned $224 million, or 62 cents per share. A year ago, it earned $326 million, or 90 cents per share. Not including one-time items, such as costs associated with its cost-cutting plan, it earned 94 cents per share in the most recent quarter. Revenue declined to $3.64 billion. The company said core sales in its cereal division declined 4.7%. The company also posted declines in its U.S. snacks division and international segment. Cash flow from operations was $1.18 billion on track with expectations for the year. Capital spending was $355 million.
The company still expects full-year earnings in the range of $3.81 to $3.89 per share. For the full year, the company expects internal net sales will be down between 1% and 2%; underlying internal operating profit will be down between 1% and 3%; and currency-neutral comparable earnings per share will be between up 1% and down 1%. The company expects cash flow from operations after capital spending to be at the low end of range between $1 billion and $1.1 billion. The tax rate is expected to be approximately 29% and interest expense is now anticipated to be approximately $210 million. And the company still expects capital spending to be between 4% and 5% of sales.
Kellogg Company Appoints G. Zachary Gund as a Director
Oct 27 14
On October 24, 2014, the Board of Directors of Kellogg Company elected G. Zachary Gund as a director, with an initial term beginning December 1, 2014 and expiring at the 2015 annual meeting of shareholders.
Kellogg Company Declares Regular Dividend, Payable on December 15, 2014
Oct 24 14
Kellogg Company announced that it's board of directors declared a dividend of $0.49 per share on the common tock of the company. The dividend is payable on December 15, 2014 to share owners of record at the close of business on December 1, 2014. The ex-dividend date is November 26, 2014.