Kellogg Major Shareholder Kellogg Foundation Trust Unloads 43,504 Shares (K)
Kellogg (NYSE:K) major shareholder Kellogg Foundation Trust sold 43,504 shares of Kellogg stock on the open market in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.52, for a total transaction of $2,676,366.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Kellogg (NYSE:K) traded up 0.69% on Wednesday, hitting $62.32. 1,506,325 shares of the company’s stock traded hands. Kellogg has a one year low of $50.21 and a one year high of $67.98. The stock has a 50-day moving average of $63.15 and a 200-day moving average of $63.86. The company has a market cap of $22.587 billion and a P/E ratio of 23.71.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.00 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Kellogg will post $3.77 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on K shares. 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 analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $62.60.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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