Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Kellogg has had a sustained emphasis on execution which resulted in the company surpassing Wall Street expectations in terms of both, revenues as well as earnings.</li><li>As both the company's own inventories as well as client inventories are replenished, its North American cereal business gradually resumes business and gains market share.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Kellogg has had a sustained emphasis on execution which resulted in the company surpassing Wall Street expectations in terms of both, revenues as well as earnings.As both the company's own inventories as well as client inventories are replenished, its North American cereal business gradually resumes business and gains market share.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Kellogg Company: Business Restructuring & Other Drivers

Equity Capital Markets

<ul><li>Kellogg had a good financial performance and reported an organic net sales growth exceeded their guidance range by 3.5%, resulting in a two-year CAGR of nearly 5%.</li><li>Its organic net sales growth remained strong, owing to strong price realization across the globe and continued momentum in key businesses and brands.</li><li>The company’s low-single digit performance was fair despite the fact that their fourth quarter was the worst for supply disruptions.</li></ul>

Kellogg had a good financial performance and reported an organic net sales growth exceeded their guidance range by 3.5%, resulting in a two-year CAGR of nearly 5%.Its organic net sales growth remained strong, owing to strong price realization across the globe and continued momentum in key businesses and brands.The company’s low-single digit performance was fair despite the fact that their fourth quarter was the worst for supply disruptions.

Kellogg Company: Financial & Price Forecasts

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Invesco QQQ Trust Series 1 / Technical Analysis

<ul>
<li>Following panic selling that we have outlined over the past month, we finally saw panic buying last Friday in the form of 92% upside volume on the NYSE.</li>
<li>There is hope that this panic buying could signal a major bottom, but we still need to see more confirmation before declaring that the low is in.</li>
<li>We are watching the Nasdaq 100 (QQQ) and the steep RS uptrends on Utilities (XLU) and Staples (XLP) for more confirmation that a major low is in place. Details below.</li>
</ul>


Following panic selling that we have outlined over the past month, we finally saw panic buying last Friday in the form of 92% upside volume on the NYSE.
There is hope that this panic buying could signal a major bottom, but we still need to see more confirmation before declaring that the low is in.
We are watching the Nasdaq 100 (QQQ) and the steep RS uptrends on Utilities (XLU) and Staples (XLP) for more confirmation that a major low is in place. Details below.


Panic Buying Achieved, Waiting for More Confirmation of a Bottom;Buying Staples & Auto Dealers/Parts

Credit

<ul><li>Kellogg has faced its fair share of challenges in 2021 in the form of supply chain issues, inflationary pressures, struggles with its core cereals business, plant fires, labor strikes, and so on.</li><li>While Kellogg had a fantastic 2020 on account of the pandemic-induced tailwinds, the company was able to outperform those numbers in 2021 despite facing a highly challenging operating environment.</li><li>Like most of its food peers, the company faced various supply chain challenges and was hampered by bottlenecks and shortages in everything from labour to materials to freight, resulting in incremental costs and inefficiencies that were difficult to plan for.</li></ul>

Kellogg has faced its fair share of challenges in 2021 in the form of supply chain issues, inflationary pressures, struggles with its core cereals business, plant fires, labor strikes, and so on.While Kellogg had a fantastic 2020 on account of the pandemic-induced tailwinds, the company was able to outperform those numbers in 2021 despite facing a highly challenging operating environment.Like most of its food peers, the company faced various supply chain challenges and was hampered by bottlenecks and shortages in everything from labour to materials to freight, resulting in incremental costs and inefficiencies that were difficult to plan for.

Kellogg Company: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>Kellogg had an extraordinary 2020 on account of the pandemic-induced tailwinds and the company was able to outperform those numbers in 2021 as well despite facing a highly challenging operating environment.</li><li>However, with the inflationary impact, the strikes, the plant fire, and the struggling cereal business, there is little to be optimistic about Kellogg.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Kellogg had an extraordinary 2020 on account of the pandemic-induced tailwinds and the company was able to outperform those numbers in 2021 as well despite facing a highly challenging operating environment.However, with the inflationary impact, the strikes, the plant fire, and the struggling cereal business, there is little to be optimistic about Kellogg.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

United States

Kellogg Company manufactures and markets ready-to-eat cereal and other convenience foods. The Company's products include cereals, cookies, crackers, toaster pastries, cereal bars, fruit snacks, frozen waffles and veggie foods. Kellogg markets its products in the United States, Canada, and other countries throughout the world.

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Kellogg Co (K US)

Kellogg Company: Business Restructuring & Other Drivers

Kellogg has had a sustained emphasis on execution which resulted in the company surpassing Wall Street expectations in terms of both, revenues as...

Baptista Research

Kellogg Company: Financial & Price Forecasts

Kellogg had a good financial performance and reported an organic net sales growth exceeded their guidance range by 3.5%, resulting in a two-year...

Baptista Research

Panic Buying Achieved, Waiting for More Confirmation of a Bottom;Buying Staples & Auto Dealers/Parts

We finally saw panic buying last Friday in the form of 92% upside volume on the NYSE. There is hope that this panic buying could signal that a...

Vermilion Research

Kellogg Company: Detailed Credit Analysis & Financial Strength Evaluation Report

Kellogg has faced its fair share of challenges in 2021 in the form of supply chain issues, inflationary pressures, struggles with its core cereals...

Baptista Research

Kellogg Company: Financial & Price Forecasts

Kellogg had an extraordinary 2020 on account of the pandemic-induced tailwinds and the company was able to outperform those numbers in 2021 as...

Baptista Research

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