Insider Selling: Maribeth A. Dangel Sells 7,770 Shares of Kellogg Company Stock (K)
Kellogg Company (NYSE:K) VP Maribeth A. Dangel sold 7,770 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $500,854.20. Following the completion of the sale, the vice president now directly owns 1,474 shares of the company’s stock, valued at approximately $95,014. The transaction was disclosed in a filing with the SEC, which is available at 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, 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 issued a hold rating and two have issued a buy rating to the company. Kellogg Company currently has a consensus rating of “Hold” and a consensus price target of $62.90.
Shares of Kellogg Company (NYSE:K) traded down 0.60% during mid-day trading on Friday, hitting $64.49. The stock had a trading volume of 485,543 shares. Kellogg Company has a one year low of $55.69 and a one year high of $69.50. The stock has a 50-day moving average of $64.5 and a 200-day moving average of $64.40. The company has a market cap of $23.224 billion and a price-to-earnings ratio of 12.78.
Kellogg Company (NYSE:K) last posted its quarterly 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. Analysts expect that Kellogg Company will post $3.91 EPS 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 3.02%. 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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