Welcome to our dedicated page for Kellanova news (Ticker: K), a resource for investors and traders seeking the latest updates and insights on Kellanova stock.
Kellanova (NYSE: K), formerly part of the Kellogg Company, is a global leader in the production and marketing of snacks and packaged foods. With a legacy stretching back over 100 years and annual sales surpassing $13 billion, Kellanova offers a diverse product portfolio that includes iconic brands like Pringles®, Cheez-It®, Pop-Tarts®, Eggo®, and MorningStar Farms®. As a powerhouse in the snacking industry, Kellanova's products are manufactured in around 20 countries and marketed in more than 180 countries worldwide.
Following its strategic split from the North American cereal business, Kellanova has focused on becoming a leader in salty snacks, snack bars, frozen breakfast items, meat alternatives, and other packaged foods. The company’s commitment to sustainability and equitable food access is embodied in its ambitious goal to create Better Days for 4 billion people by 2030.
Kellanova has recently made headlines with several notable initiatives. For instance, their brand Eggo® has partnered with the National Black Growers Council (NBGC) to support Black farmers through grants aimed at improving farming efficiency and productivity. This partnership aligns with Kellanova's mission of fostering sustainable and equitable food systems.
Moreover, the launch of the Eggo House of Pancakes in Gatlinburg, Tennessee, offers a unique vacation experience, reinforcing Eggo's brand while providing chaos-free mornings for guests. Not to be outdone, Hidden Valley Ranch and Cheez-It® have collaborated to introduce a new product, Cheezy Ranch, combining the rich flavors of ranch and cheese into a delectable dipping sauce.
In terms of financial performance, Kellanova has shown consistent growth, with net sales reaching $13 billion in 2023. The company continues to innovate and expand its product offerings while leveraging advanced AI technologies to optimize supply chain efficiencies, improve e-commerce search, and better understand consumer needs.
With a clear vision to become the world's best-performing snacks-led powerhouse, Kellanova is well-positioned for future growth. Under the leadership of Steve Cahillane, Chairman, President & CEO, and Amit Banati, Vice Chairman & CFO, the company remains committed to delivering value to its stakeholders while advancing sustainable and equitable food access globally.
For more detailed information, visit Kellanova's website and stay updated on their latest developments and financial results.
Cheez-It has launched its first-ever name, image, and likeness (NIL) deals with four college football athletes as part of its promotional strategy. The selected players will experience exclusive accommodations at the 'Feelin' the Cheeziest' Hotel Rooms, filled with Cheez-It themed items. The initiative is aimed at enhancing brand engagement with fans during the college football season. The Cheez-It Bowl is scheduled for December 29, 2022, and the Citrus Bowl follows on January 2, 2023.
Kellogg Company is introducing NaviLens technology on packaging for four cereal brands, enabling visually impaired consumers to better navigate grocery stores. The technology features high-contrast optical codes that can be scanned with smartphones, providing product information in 36 languages. This initiative aligns with Kellogg's Better Days Promise, aiming to enhance accessibility and inclusivity. By 2023, NaviLens will be implemented in all U.S. corporate facilities, promoting a supportive environment for employees with disabilities.
Kellogg's Frosted Flakes® Mission Tiger is enhancing middle school sports programs in Missouri through significant donations to local schools. On December 14, 2022, notable contributions were made to Momentum Academy and Valley Middle School, providing essential sports gear and fitness equipment. The initiative, which has positively impacted over 1 million children since its launch in 2019, emphasizes the importance of school sports in youth development. Donations are facilitated via the education nonprofit DonorsChoose, demonstrating Kellogg's commitment to community support.
Kellogg Company (NYSE: K) has approved a new share repurchase authorization of up to $1.5 billion, effective from January 1, 2023, to December 31, 2025. This initiative aims to counteract dilution from options exercises and stock grants while returning cash to shareholders. The previous authorization of $1.5 billion expired on December 31, 2022. Kellogg emphasizes that these buybacks reflect its commitment to enhance shareholder value and support its stock price.
The 2022 Tony the Tiger Sun Bowl, scheduled for December 30 in El Paso, Texas, will feature a matchup between the University of Pittsburgh and UCLA. The event promotes youth sports via Kellogg's Frosted Flakes and Albertsons Foundation's Mission Tiger program, donating funds to Parkland Pre-Engineering Middle School. This initiative aims to enhance middle school athletics, providing new sports equipment and access to athletes. Since its launch in 2019, Mission Tiger has supported over 1 million children nationwide by improving sports facilities and resources.
Kellogg's Special K introduces three new flavors: Oat Crunch Honey, High Protein, and Zero. These additions aim to cater to diverse consumer preferences for various times and moods. The Oat Crunch Honey features multigrain flakes and vanilla-oat clusters, while the High Protein variety boasts 20g of protein, real almonds, and rich chocolate flavor. The Zero flavor, with zero sugar and 18g of plant-based protein, is keto-friendly. These products will be available in December 2022 at various retailers, with suggested prices ranging from $4.99 to $8.49.
Kellogg Company, based in Battle Creek, Mich., announced a donation of 30 million servings of food to Feeding America, aiming to combat food insecurity during the holidays. This contribution includes products like cereal, snacks, and Eggo. CEO Steve Cahillane emphasized the company's commitment to supporting 375 million people facing hunger by 2030. As part of their Better Days Promise, Kellogg encourages public donations to Feeding America, where just $1 can provide at least 10 meals to those in need.
Kellogg Company announced that its employees worldwide volunteered over 2,400 hours to honor World Food Day. This initiative, part of Kellogg's Better Days Promise ESG strategy, aims to create better days for 3 billion people by 2030. Employees participated in various activities, such as sorting food and cleaning parks. For every hour logged by November 30, Kellogg pledged to donate $10 to United Way. Since 2015, employees have volunteered more than 106,000 hours globally. The company emphasizes community support and employee engagement as key components of its social responsibility efforts.
Kellogg's has announced the launch of two new products: Kellogg's Krave Double Chocolate Brownie Batter Cereal and Kellogg's Froot Loops with Marshmallows Jumbo Snax, available nationwide starting December 2022. The Krave cereal features a blend of creamy and crispy textures, mimicking brownie batter, priced at $4.29 for 10.5 ounces and $5.29 for 16.2 ounces. The Froot Loops Jumbo Snax combines the fruity cereal with marshmallows, priced at $5.29 for a pack of 12. This introduction aims to cater to consumer preferences for innovative flavors.
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