Kellogg Co K

Kellogg has gone to great lengths the last several years to diversify its mix beyond its legacy cereal lineup (now less than 40% of its consolidated base), in favor of on-trend snacking fare (including Pringles, Cheez-Its, and RXBAR to name a few, about half of its sales). However, amid the current pandemic, which has seen consumers staying closer to home (especially during the breakfast daypart as work-from-home mandates persist), cereal has been an outsize beneficiary. This was particularly evident on its home turf, which boasted a nearly 26% increase in sales this quarter (including a nearly 16% bump in consumption, as Kellogg and its retail partners each sought to boost inventory levels that had been depleted since the onslaught of COVID-19), head and shoulders above the 6% organic sales growth in its North American snacks portfolio.