Kellogg Major Shareholder Sells $4,239,500 in Stock (K)
Kellogg (NYSE:K) major shareholder Kellogg Foundation Trust unloaded 69,500 shares of the company’s stock on the open market in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $61.00, for a total transaction of $4,239,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Kellogg (NYSE:K) traded down 0.65% on Monday, hitting $61.05. 1,639,188 shares of the company’s stock traded hands. Kellogg has a 52 week low of $51.36 and a 52 week high of $67.98. The stock has a 50-day moving average of $60.14 and a 200-day moving average of $63.47. The company has a market cap of $22.127 billion and a price-to-earnings ratio of 23.54.
Kellogg (NYSE:K) last released its earnings data on Thursday, August 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the company posted $0.95 earnings per share. Kellogg’s revenue was up 6.9% compared to the same quarter last year. Analysts expect that Kellogg will post $3.77 EPS for the current fiscal year.
K has been the subject of a number of recent research reports. Analysts at Merrill Lynch downgraded shares of Kellogg from a “buy” rating to an “underperform” rating in a research note to investors on Monday. Separately, analysts at Bank of America Corp. downgraded shares of Kellogg from a “buy” rating to an “underperform” rating in a research note to investors on Monday. They now have a $62.00 price target on the stock, down previously from $69.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Kellogg in a research note to investors on Wednesday, October 2nd. They now have a $68.00 price target on the stock, down previously from $73.00. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.60.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.