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The jump in the firm’s net sales was a result of a positive momentum in snacks, noodles and other categories, and faster-than-expected recovery in North America cereal.ĭiluted earnings per share declined to $0.95, from $1.11. Net sales during the period increased to $3.86bn, from $3.55bn. Kellogg’s net income fell to $326m in the second-quarter, from $380m a year earlier. Kellogg’s net income falls, raises dividend Stock splits are typically performed to make a stock more affordable for retail investors and boost demand. In terms of the Kellogg stock split history, the company carried out three stock splits to date.Ī stock split is a corporate action where the number of shares is divided but does not affect the firm’s overall market capitalisation.įor example, in a 2 for 1 stock split, investors owning one K share would receive two K shares, each worth half the price. In 2022, however, Kellogg’s outperformed the wider market as investor sentiment shifted towards value stocks amid recession fears, inflationary pressures and global monetary tightening. In the last five years Kellogg’s has suffered through a volatile ride and sideways price action. K stock is far off its record high of $87 achieved in July 2016. This compared with 1.11% average annual returns for the packaged foods industry. In the last five years, the stock gained 6.24% annually, on average, Morningstar data of 18 October showed. The company’s shares have delivered steady returns throughout the Kellog stock history, pleasing investors with 2,462% gains since its IPO, as of 18 October. Try demo Kellogg’s stock struggles to repeat 2016 highs It was added to the US benchmark index S&P 500 ( US500) in 1989. The stock has been trading on New York Stock Exchange ( NYSE) under the ticker symbol ‘K’. Kellogg’s initial public offering ( IPO) was in 1952 at $23.75 per share, listing 415,600 shares and involving 4,000 investors. Apart from the original cornflakes, Kelloggs also produced brands such as Coco Pops, Crunchy Nut, Frosties, Squares and more. Kellogg’s invented the recipe behind crunchy cereals produced from grain, which today are among the most popular breakfast foods in the US. John Harvey Kellogg and Will Keith Kellogg. The Kellogg Company was founded in 1900 as the Sanitas Food Company by Dr. Note that the corporate split of Kellogg’s’ businesses discussed in this article is different to a stock split, whereby a company’s shares are divided, decreasing the individual stock price. Yet what will the division of Kellogg’s business mean for investors? Here we take a look at how the Kellogg stock split could affect the share price and the firm’s outlook. US30 US Wall Street 30 (USA 30, Dow Jones)
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