Abro hilo para esta compañía que me sorprende que no estuviera abierto aun. Todos sabemos de sobra a qué se dedica. A precios actuales reparte un 3,84% de dividendo con un pay out entorno al 60% si no me equivoco.
Cómo la veis? la lleváis alguno en cartera. Es que me sorprende que nadie hable de esta compañía por ningún foro.
Kellogg (NYSE:K) updates guidance ahead of the company’s presentation at the CAGNY conference later today.
The company sees 2019 sales up 3% to 4% compared to a year ago and EPS down 5% to 7%.
Share buybacks may be flexed for potential M&A activity this year. A dividend payout rate of around 50% is anticipated.
For the long term, Kellogg targets sales growth of +1% to +3% as it works toward its goal of dependable growth, augmented by M&A and complemented by dividend yield. EPS growth of 6% to 8% is targeted for the long term.
"Atrévete a Vivir la Vida que has Imaginado" Henry James
Kellogg’s wide assortment of large and well-known brands has served investors well for more than a century. However, all companies need to adapt to changing consumer tastes, and Kellogg has really struggled to do that over the past decade.
While management’s turnaround plan sounds reasonable, and the firm’s long-term growth guidance (about 7% cash flow and dividend growth per year) looks appealing at first glance, investors have reason to be skeptical that it can deliver on that plan.
At the very least, realize that Kellogg, while likely a safe income investment, is probably going to have to grow its dividend slower than in the past, in order to maintain a healthy balance sheet and fund its ongoing turnaround.
As conservative investors, our preference is to invest in companies with stronger long-term outlooks and clearer paths to profitable growth. Many parts of Kellogg’s portfolio appear to remain in the crosshairs of changing consumer tastes, and management’s long-term track record of adapting the business doesn’t inspire much confidence.