{"id":28571,"date":"2023-06-28T07:13:48","date_gmt":"2023-06-28T11:13:48","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/kellogg-stock-snags-a-buy-rating-thank-the-cereal-spinoff\/"},"modified":"2023-06-28T07:13:50","modified_gmt":"2023-06-28T11:13:50","slug":"kellogg-stock-snags-a-buy-rating-thank-the-cereal-spinoff","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28571","title":{"rendered":"Kellogg Stock Snags a Buy Rating. Thank the Cereal Spinoff."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000679544\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>\n        Kellogg<br \/>\n       stock was climbing Tuesday after gaining a bull who says the food company\u2019s cereal spinoff plans offer growth potential.<\/p>\n<p>Goldman Sachs analysts led by Jason English upgraded shares of<br \/>\n        Kellogg<br \/>\n       (ticker: K) to Buy from Neutral and lifted their price target to $83 from $78.<\/p>\n<p>Kellogg stock rose 1.8% to $66.79 in recent trading. So far this year, the stock has shed 6.3%. <\/p>\n<div class=\"paywall\">\n<p>Food companies have performed well over the past few years, thanks to inflation-driven price increases, English noted. <\/p>\n<p>\u201cGrowth, however, is about to become scarce in the industry as price fades and volume growth remains lacking for most,\u201d he added. Kellogg, however, is different, due to \u201cfavorable end-market exposure and strong business momentum.\u201d <\/p>\n<p>That being said, the company is still valued below its competitors. Despite Kellogg\u2019s strong potential to gain market share over the next decade, the stock trades at a price-to-earnings ratio of 16.4 times, the analyst noted, while the food industry average is 18.6 times. In comparison, competitors<br \/>\n        Mondelez International<br \/>\n       (MDLZ) and<br \/>\n        Hershey<br \/>\n       (HSY) trade at 20.9 times and 24.4 times, respectively. <\/p>\n<p>\u201cWe believe concern about stranded costs from its planned spinout of its North<br \/>American cereal business has created this buying opportunity, as it is overshadowing the underlying growth outlook for the business,\u201d the analyst wrote. <\/p>\n<p>Plans to split off the North American cereal business were announced last June. Putting aside that segment, Kellogg\u2019s organic sales growth has made strides since 2018, English noted. <\/p>\n<p>\u201cWe believe this business will settle into 4-5% organic sales growth rates when industry growth normalizes next year,\u201d he continued.<\/p>\n<p>In May, Kellogg posted better-than-expected adjusted earnings for its first quarter, and said it expects to complete the spinoff of its cereal business during the fourth quarter. <\/p>\n<p>Analysts are mixed on the stock. Of those surveyed by FactSet, 15% rate shares as Buy, 70% as Neutral, and 15% as Sell. <\/p>\n<p>Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/kellogg-stock-spinoff-price-rating-46c3070b?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kellogg stock was climbing Tuesday after gaining a bull who says the food company\u2019s cereal spinoff plans offer growth potential. Goldman Sachs analysts led by Jason English upgraded shares of Kellogg (ticker: K) to Buy from Neutral and lifted their price target to $83 from $78. Kellogg stock rose 1.8% to $66.79 in recent trading. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-28571","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kellogg Stock Snags a Buy Rating. Thank the Cereal Spinoff. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Kellogg stock was climbing Tuesday after gaining a bull who says the food company\u2019s cereal spinoff plans offer growth potential. 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