Insider Selling: Paul T. Norman Sells 47,455 Shares of Kellogg Company Stock (K)
Kellogg Company (NYSE:K) SVP Paul T. Norman sold 47,455 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.42, for a total transaction of $3,057,051.10. Following the sale, the senior vice president now directly owns 62,475 shares in the company, valued at approximately $4,024,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 research 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’s stock. The company currently has an average rating of “Hold” and an average target price of $62.90.
Kellogg Company (NYSE:K) traded down 0.60% during mid-day trading on Friday, hitting $64.49. 485,543 shares of the company’s stock traded hands. 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 announced its 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. 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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