Kellogg Company SVP Unloads $3,057,051 in Stock (K)
Kellogg Company (NYSE:K) SVP Paul T. Norman sold 47,455 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $64.42, for a total value of $3,057,051.10. Following the completion of the sale, the senior vice president now directly owns 62,475 shares of the company’s stock, valued at approximately $4,024,640. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 stock. The stock presently has an average rating of “Hold” and an average price target of $62.90.
Kellogg Company (NYSE:K) traded up 0.54% during mid-day trading on Wednesday, hitting $64.82. The stock had a trading volume of 1,797,565 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 $64.66 and a 200-day moving average of $64.34. The company has a market cap of $23.343 billion and a P/E ratio of 12.70.
Kellogg Company (NYSE:K) last released its earnings data on Thursday, July 31st. The company reported $1.02 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.00 earnings per share. Kellogg Company’s revenue was down .8% compared to the same quarter last year. Analysts expect that Kellogg Company will post $3.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders 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 3.02%. The ex-dividend date of this dividend 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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