Report
Erin Lash
EUR 101.80 For Business Accounts Only

With its distribution shift a wrap, Kellogg is poised to up support for its brand intangible assets.

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...
Underlying
Kellogg Company

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Erin Lash

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