EAST HANOVER, N.J. - The SOUR PATCH KIDS brand, in collaboration with the Thurgood Marshall College Fund (TMCF), announced the availability of the Mischief for Change scholarships for the 2024-2025 academic year. Eligible students attending Historically Black Colleges and Universities (HBCUs) are encouraged to apply for one of the ten scholarships offered.
Since its inception, the scholarship program, backed by a $1 million commitment over five years, has supported 31 students. These individuals have been recognized for their potential to challenge norms and make a positive impact on their communities. The scholarships have enabled past recipients to engage more deeply in their college experience, including community service and career planning.
Jenna Carls, Senior Brand Manager at Mondelēz International, expressed pride in the program, which aligns with the brand's playful spirit and supports educational pursuits and leadership development. Dr. Harry Williams, CEO & President of TMCF, also highlighted the program's contribution to creating access to opportunities that enhance economic mobility for HBCU students.
Applicants must be full-time undergraduate students at a TMCF member-school with a GPA of 3.0 or higher and demonstrate financial need. They must also have a completed FAFSA for the 2024-2025 year and be a U.S. Citizen or legal permanent resident. The deadline for application submissions is May 17, 2024.
Mondelēz International, the parent company of SOUR PATCH KIDS, is a global leader in the snack industry, with notable brands such as Oreo and Cadbury under its umbrella. TMCF, established in 1987, serves as a major advocate for the Black College Community, supporting the education of students attending black colleges and universities through scholarships and other resources.
This scholarship initiative is part of a broader effort to support educational excellence and professional advancement for students at HBCUs. More information about the Mischief for Change scholarship can be found on the official SOUR PATCH KIDS channels and the snackworks website. This news is based on a press release statement.
InvestingPro Insights
Mondelēz International, known for its iconic brands like SOUR PATCH KIDS, has shown robust financial performance in recent times. The company's market capitalization stands at an impressive $94.36 billion, reflecting its significant presence in the global snack industry. With a Price-to-Earnings (P/E) ratio of 19.23, the company trades at a valuation that investors may find attractive given its growth prospects. Adjusting for the last twelve months as of Q4 2023, the P/E ratio is slightly higher at 21.39, suggesting that earnings have not kept pace with the share price increase during this period.
InvestingPro Tips indicate that Mondelēz's PEG ratio, which measures the relationship between the P/E ratio and earnings growth, is remarkably low at 0.23 for the same period. This could imply that the company's earnings growth rate is high compared to its P/E ratio, potentially signaling undervaluation. Furthermore, the company has demonstrated strong revenue growth, with a 14.35% increase over the last twelve months as of Q4 2023, and a quarterly revenue growth of 7.12% in Q4 2023.
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