Kellogg Company Price Target Lowered to $69.00 at Nomura (K)
Equities researchers at Nomura decreased their price target on shares of Kellogg Company (NYSE:K) from $71.00 to $69.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock. Nomura’s price target would suggest a potential upside of 12.30% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Kellogg Company in a research note on Friday. They now have a $63.00 price target on the stock. Separately, analysts at Goldman Sachs downgraded shares of Kellogg Company from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 15th. They now have a $59.00 price target on the stock, down previously from $64.00. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $63.00.
In other Kellogg Company news, major shareholder Kellogg W. K. Foundation Trust unloaded 1,162 shares of Kellogg Company stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $66.50, for a total transaction of $77,273.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Kellogg Company (NYSE:K) traded up 2.69% during mid-day trading on Friday, hitting $61.44. The stock had a trading volume of 5,133,855 shares. Kellogg Company has a 52 week low of $55.69 and a 52 week high of $69.50. The stock has a 50-day moving average of $65.6 and a 200-day moving average of $64.0. The company has a market cap of $22.060 billion and a P/E ratio of 11.48.
Kellogg Company (NYSE:K) last released its earnings data on Thursday, July 31st. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that Kellogg Company will post $3.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, August 28th. This is a positive change from Kellogg Company’s previous quarterly dividend of $0.46.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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