Even After a Pop in Kellogg's Shares Following 4Q Results, Investors Still Have Opportunity to Feast
Kellogg closed the book on an eventful 2017 on solid footing. While the year included welcoming a new CEO (Steve Cahillane, formerly CEO of Nature’s Bounty), we think the more notable aspect was the decision to abandon direct-store distribution in favor of warehouse delivery. We perceive this shift as enabling the firm to free up funds that previously had been invested behind its distribution network to be reallocated toward brand building, which we view as crucial given the ultracompetitive lan...
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