Kellogg Company Director Sells $303,958 in Stock (K)
Kellogg Company (NYSE:K) Director John T. Dillon sold 4,920 shares of Kellogg Company stock on the open market in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $61.78, for a total value of $303,957.60. Following the transaction, the director now directly owns 24,247 shares of the company’s stock, valued at approximately $1,497,980. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on K shares. Analysts at Nomura cut their price target on shares of Kellogg Company from $71.00 to $69.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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 equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.
Shares of Kellogg Company (NYSE:K) traded down 1.06% during mid-day trading on Tuesday, hitting $61.40. The stock had a trading volume of 1,653,303 shares. Kellogg Company has a 1-year low of $55.69 and a 1-year high of $69.50. The stock has a 50-day moving average of $65.31 and a 200-day moving average of $64.13. The company has a market cap of $22.104 billion and a P/E ratio of 12.22.
Kellogg Company (NYSE:K) last announced its earnings results on Thursday, July 31st. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.00 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts predict that Kellogg Company will post $3.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend 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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