Kellogg Company Short Interest Down 30.2% in April (K)
Shares of Kellogg Company (NYSE:K) were the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 7,037,762 shares, a decline of 30.2% from the April 15th total of 10,076,329 shares, AR Network reports. Based on an average daily volume of 1,978,745 shares, the days-to-cover ratio is presently 3.6 days. Approximately 2.0% of the shares of the company are sold short.
Several analysts have recently commented on the stock. Analysts at Credit Suisse reiterated an “underperform” rating on shares of Kellogg Company in a research note on Friday, May 2nd. They now have a $60.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Kellogg Company in a research note on Friday, May 2nd. They now have a $69.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Kellogg Company from $57.00 to $62.00 in a research note on Monday, April 28th. They now have a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $62.25.
Shares of Kellogg Company (NYSE:K) opened at 67.56 on Monday. Kellogg Company has a 1-year low of $55.69 and a 1-year high of $68.80. The stock has a 50-day moving average of $66.42 and a 200-day moving average of $62.30. The company has a market cap of $24.257 billion and a price-to-earnings ratio of 12.98.
Kellogg Company (NYSE:K) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.98 by $0.03. 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 prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts expect that Kellogg Company will post $4.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 29th.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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