Insider Selling: Gary H. Pilnick Sells 45,950 Shares of Kellogg Company Stock (K)
Kellogg Company (NYSE:K) SVP Gary H. Pilnick sold 45,950 shares of Kellogg Company stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $63.97, for a total transaction of $2,939,421.50. Following the completion of the transaction, the senior vice president now directly owns 50,979 shares in the company, valued at approximately $3,261,127. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on K. Analysts at Nomura cut their price target on shares of Kellogg Company from $71.00 to $69.00 in a research note on Friday, August 1st. 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, August 1st. 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 analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.90.
Shares of Kellogg Company (NYSE:K) traded up 0.48% on Friday, hitting $64.31. 1,414,650 shares of the company’s stock traded hands. 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 $64.70 and a 200-day moving average of $64.19. The company has a market cap of $23.159 billion and a P/E ratio of 12.61.
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 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 $3.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders 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 3.06%. The ex-dividend date is Thursday, August 28th. This is a boost 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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