Kellogg Company (K - Free Report) recently announced the voluntary recall of certain snacks fearing that they may contain undeclared peanut residue.
The recall was initiated after Kellogg’s flour supplier Grain Craft recalled wheat flour that could possibly contain low levels of peanut residue.
Kellogg’s recalled items include certain varieties and limited dates of production of Mother's, Keebler, Kellogg's Special K brownies, Murray and Famous Amos snacks and cookies. Though the company has not received any report of illness, the step taken was a cautionary measure.
Recalling products due to supplier contamination issues has become quite common for food companies.
Canada-based company SunOpta, Inc. (STKL - Free Report) began recalling its sunflower kernel and seed products in May on discovering that they may be contaminated with Listeria monocytogenes infection. Following SunOpta’s expanded recall in June, many of its customers also recalled some of their products which contained sunflower kernels and seeds supplied by SunOpta.
Earlier this month, The Hershey Company (HSY - Free Report) announced a voluntary recall of three SoFit products due to supplier SunOpta’s recall of sunflower seeds. TreeHouse Foods Inc. (THS - Free Report) also recalled some of its products containing sunflower kernels supplied by SunOpta. General Mills also announced a voluntary national recall of four specific flavors of its Nature Valley protein chewy bars and Nature Valley simple nut bars due to the same contamination issues at supplier SunOpta.
Kellogg carries a Zacks Rank #3 (Hold)
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Kellogg Company (K - Free Report) recently announced the voluntary recall of certain snacks fearing that they may contain undeclared peanut residue.
The recall was initiated after Kellogg’s flour supplier Grain Craft recalled wheat flour that could possibly contain low levels of peanut residue.
Kellogg’s recalled items include certain varieties and limited dates of production of Mother's, Keebler, Kellogg's Special K brownies, Murray and Famous Amos snacks and cookies. Though the company has not received any report of illness, the step taken was a cautionary measure.
Recalling products due to supplier contamination issues has become quite common for food companies.
Canada-based company SunOpta, Inc. (STKL - Free Report) began recalling its sunflower kernel and seed products in May on discovering that they may be contaminated with Listeria monocytogenes infection. Following SunOpta’s expanded recall in June, many of its customers also recalled some of their products which contained sunflower kernels and seeds supplied by SunOpta.
Earlier this month, The Hershey Company (HSY - Free Report) announced a voluntary recall of three SoFit products due to supplier SunOpta’s recall of sunflower seeds. TreeHouse Foods Inc. (THS - Free Report) also recalled some of its products containing sunflower kernels supplied by SunOpta. General Mills also announced a voluntary national recall of four specific flavors of its Nature Valley protein chewy bars and Nature Valley simple nut bars due to the same contamination issues at supplier SunOpta.
Kellogg carries a Zacks Rank #3 (Hold)
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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