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, formerly known as Kellogg Company, manufactures and markets snacks and convenience foods. The Chicago, Illinois-based company’s principal products include snacking, cereal, noodles, plant-based foods, and frozen foods. It also offers its products under various well-known brands, including Kellogg's, Cheez-It, Pringles, Pop-Tarts, and Eggo, among others.
Companies valued at $10 billion or more are generally described as “large-cap” stocks, and Kellanova fits right into that category. The company distinguishes itself as a leading global snacking business and manufactures and markets its products in over 180 countries.
Despite a slight pullback from its 52-week high of $80.97 reached on Aug. 26, shares of this packaged food business have gained 37.3% over the past three months, dwarfing the broader Dow Jones Industrials Average’s ($DOWI) 6.9% return over the same time frame.
Moreover, in the longer term, K stock is up 44.4% on a YTD basis, significantly surpassing DOWI’s 10.1% gains. Plus, shares of K have gained 34.2% over the past 52 weeks, outperforming DOWI’s 19.9% returns over the same time frame.
To confirm its bullish trend, K has been trading above its 200-day moving average since mid-April and has remained above its 50-day moving average since August.
K’s outperformance can be attributed to strong financial performance and diversified global presence coupled with its strategic use of AI, ML, and data analytics, which has been optimizing operations and driving innovations like the Pringles Harvest Blends.
Moreover, on Aug. 1, shares of K surged 6.7% after the company reported its better-than-expected Q2 adjusted earnings of $1.01 per share and revenue of $3.2 billion, driven by an increase in sales from the North America and Latin America segments backed by significant organic growth, and improved volumes. The company’s raised full-year guidance further boosted investor confidence. Adding to the momentum, the stock took off more than 16% on Aug. 5 following the news related to M&M and Snickers maker “Mars” considering a potential acquisition of the company.
K has outpaced its rival, General Mills, Inc. , which gained 12.4% over the past 52 weeks and 14% on a YTD basis.
Despite K’s outperformance relative to the broader market, analysts remain cautious about its prospects. The stock has a consensus rating of “Hold” from the 17 analysts covering the stock, and as of writing, K is trading above its mean price target of $78.41.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
A smart beta exchange traded fund, the Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS) debuted on 11/01/2006, and offers broad exposure to the Consumer Staples ETFs category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is sponsored by Invesco. It has amassed assets over $374.67 million, making it one of the average sized ETFs in the Consumer Staples ETFs. RSPS seeks to match the performance of the S&P 500 EQL WEIGHT CONSUMER STAPLES INDX before fees and expenses.
The S&P 500 Equal Weight Consumer Staples Index equally weights stocks in the consumer staples sector of the S&P 500 Index.
Cost & Other Expenses
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.40%.
RSPS's 12-month trailing dividend yield is 2.12%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For RSPS, it has heaviest allocation in the Consumer Staples sector --about 100% of the portfolio.
Looking at individual holdings, Kellanova (K) accounts for about 3.30% of total assets, followed by Tyson Foods Inc (TSN) and Mccormick & Co Inc/md (MKC).
RSPS's top 10 holdings account for about 29.12% of its total assets under management.
Performance and Risk
The ETF has gained about 5.19% so far this year and it's up approximately 6.03% in the last one year (as of 09/18/2024). In the past 52-week period, it has traded between $28.40 and $32.93.
The fund has a beta of 0.58 and standard deviation of 13.56% for the trailing three-year period. With about 39 holdings, it has more concentrated exposure than peers.
Alternatives
Invesco S&P 500 Equal Weight Consumer Staples ETF is a reasonable option for investors seeking to outperform the Consumer Staples ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard Consumer Staples ETF (VDC) tracks MSCI US Investable Market Consumer Staples 25/50 Index and the Consumer Staples Select Sector SPDR ETF (XLP) tracks Consumer Staples Select Sector Index. Vanguard Consumer Staples ETF has $7.32 billion in assets, Consumer Staples Select Sector SPDR ETF has $18.34 billion. VDC has an expense ratio of 0.10% and XLP charges 0.09%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Consumer Staples ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
NEW YORK, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating potential claims related to the below-listed proposed mergers. Kuehn Law may seek additional disclosures or other relief on behalf of the shareholders of these companies.
Kuehn Law is investigating whether the Boards of the below companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process:
Kellanova has agreed to be acquired by Mars for $83.50 per share in cash.
Manitex International, Inc. has agreed to merge with Tadano Ltd. for $5.80 per share in cash.
Sterling Bancorp, Inc.’s wholly owned subsidiary, Sterling Bank and Trust, F.S.B., is being acquired by EverBank Financial Corp for $261,000.000.
Cepton, Inc. has agreed to merge with KOITO MANUFACTURING CO., LTD. for $3.17 per share in cash.
Why Your Participation Matters:
SHAREHOLDER CASES: ADDRESSING THE INJUSTICE
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
How to Get Involved:
Kuehn Law is dedicated to safeguarding shareholder interests. Concerned shareholders are encouraged to contact Justin Kuehn, Esq., at justin@kuehn.law or call (833) 672-0814. Kuehn Law covers all case costs and does not charge its investor clients. Shareholders are advised to act promptly, as legal rights may be time-sensitive. For additional information, please visit Merger Litigation - Kuehn Law.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts:Kuehn Law, PLLCJustin Kuehn, Esq.53 Hill Street, Suite 605 Southampton, NY 11968justin@kuehn.law(833) 672-0814
Launched on 10/21/2015, the SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.
The fund is sponsored by State Street Global Advisors. It has amassed assets over $6.72 billion, making it one of the larger ETFs attempting to match the Large Cap Value segment of the US equity market.
Why Large Cap Value
Companies that find themselves in the large cap category typically have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.
Carrying lower than average price-to-earnings and price-to-book ratios, value stocks also have lower than average sales and earnings growth rates. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.07%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 3.04%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Real Estate sector--about 24.90% of the portfolio. Utilities and Financials round out the top three.
Looking at individual holdings, Kellanova (K) accounts for about 1.60% of total assets, followed by Kenvue Inc (KVUE) and Ventas Inc (VTR).
The top 10 holdings account for about 13.62% of total assets under management.
Performance and Risk
SPYD seeks to match the performance of the S&P 500 High Dividend Index before fees and expenses. The S&P 500 High Dividend Index is designed to measure the performance of the top 80 dividend-paying securities listed on the S&P 500 Index, based on dividend yield.
The ETF return is roughly 19.06% so far this year and was up about 30.08% in the last one year (as of 09/17/2024). In the past 52-week period, it has traded between $33 and $45.80.
The ETF has a beta of 1.02 and standard deviation of 17.05% for the trailing three-year period, making it a medium risk choice in the space. With about 83 holdings, it effectively diversifies company-specific risk.
Alternatives
SPDR Portfolio S&P 500 High Dividend ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, SPYD is an outstanding option for investors seeking exposure to the Style Box - Large Cap Value segment of the market. There are other additional ETFs in the space that investors could consider as well.
The Schwab U.S. Dividend Equity ETF (SCHD) and the Vanguard Value ETF (VTV) track a similar index. While Schwab U.S. Dividend Equity ETF has $60.60 billion in assets, Vanguard Value ETF has $126.51 billion. SCHD has an expense ratio of 0.06% and VTV charges 0.04%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
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