Kellogg Rating Reiterated by Deutsche Bank (K)
Kellogg (NYSE:K)‘s stock had its “buy” rating restated by investment analysts at Deutsche Bank in a note issued to investors on Tuesday, Analyst Ratings Net reports. They currently have a $68.00 price target on the stock. Deutsche Bank’s price target points to a potential upside of 7.17% from the stock’s previous close.
Kellogg (NYSE:K) traded up 1.18% during mid-day trading on Tuesday, hitting $64.20. 1,529,409 shares of the company’s stock traded hands. Kellogg has a 52-week low of $50.21 and a 52-week 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 $23.269 billion and a price-to-earnings ratio of 24.31.
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 in the previous 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.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Tuesday, November 26th.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 70,000 shares of the company’s stock on the open market in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.19, for a total transaction of $4,353,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Several other analysts have also recently commented on the stock. Analysts at Merrill Lynch downgraded shares of Kellogg from a “buy” rating to an “underperform” rating in a research note to investors on Monday, October 21st. 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, October 21st. They now have a $62.00 price target on the stock, down previously from $69.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Kellogg in a research note to investors on Wednesday, September 25th. They now have a $63.00 price target on the stock. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average 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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