Even as Sun Sets on Bryant's Reign at Kellogg, Shares Strike Us as Mildly Undervalued
Continuing the spate of packaged food executives stepping aside, Kellogg announced CEO John Bryant will retire effective Oct. 2 after nearly eight years at the helm and 20 at the firm. Assuming the reins is Steven Cahillane, who has served as CEO of Nature’s Bounty for the past three years after spending 15 years between Coca-Cola, where he was president of Coca-Cola Americas, and Anheuser-Busch InBev. While the timing is a bit curious, particularly as Bryant is just 51 years old, the firm reaff...Kellogg is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods. The company's principal products are snacks, such as crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites; and convenience foods, such as, ready-to-eat cereals, frozen waffles, veggie foods and noodles. The company's snacks brands are marketed under brands such as Kellogg's, Cheez-It, Pringles, Austin, Parati, and RXBAR. The company's cereals and cereal bars are generally marketed under the Kellogg's name, with some under the Kashi and Bear Naked brands. The company's frozen foods are marketed under the Eggo and Morningstar Farms brands.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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