Why Kellogg's Stock Is Trading Higher Today
Kellogg (NYSE:K) shares are trading higher after the company reported better-than-expected EPS and sales results. The company also raised full-year guidance.
Adjusted EPS of $1.11 beat the $0.96 estimate and sales of $3.58 billion beat the $3.38 billion estimate.
"Amidst continued difficult circumstances, our organization executed exceptionally well in the first quarter and delivered very good results, both financially and in-market," said Steve Cahillane, Kellogg Company’s Chairman and CEO. "The quarter featured continued momentum in major brands and categories, accelerated growth in emerging markets, and effective management of cost pressures through productivity and revenue growth management."
Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods. Its offerings are manufactured in 21 countries and marketed in more than 180 countries.
The stock was trading 6.64% higher at $67.26 at the time of writing. The stock has a 52-week high of $72.88 and a 52-week low of $56.61.
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