Kellogg Company SVP Sells $2,939,422 in Stock (K)
Kellogg Company (NYSE:K) SVP Gary H. Pilnick sold 45,950 shares of Kellogg Company stock on the open market in a transaction dated Thursday, August 14th. The shares were sold at an average price of $63.97, for a total transaction of $2,939,421.50. Following the sale, the senior vice president now directly owns 50,979 shares in the company, valued at approximately $3,261,127. The transaction was disclosed in a filing with the SEC, which is available at this link.
Kellogg Company (NYSE:K) traded up 0.44% on Friday, hitting $64.28. The stock had a trading volume of 2,040,009 shares. Kellogg Company has a 52 week low of $55.69 and a 52 week high of $69.50. The stock’s 50-day moving average is $64.69 and its 200-day moving average is $64.22. The company has a market cap of $23.149 billion and a P/E ratio of 12.61.
Kellogg Company (NYSE:K) last posted its quarterly earnings results 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 $3.91 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 3.05%. The ex-dividend date is Thursday, August 28th. This is a positive change from Kellogg Company’s previous quarterly dividend of $0.46.
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, 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Kellogg Company currently has an average rating of “Hold” and a consensus price target of $62.90.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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