Kellogg Company Given Consensus Rating of “Hold” by Brokerages (NYSE:K)
Kellogg Company (NYSE:K) has been given an average recommendation of “Hold” by the eleven analysts that are covering the stock, Stock Ratings Network.com reports. Four research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $62.90.
In other Kellogg Company news, major shareholder Kellogg W. K. Foundation Trust sold 141,700 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $64.69, for a total value of $9,166,573.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Kellogg Company (NYSE:K) traded up 0.87% on Monday, hitting $64.86. 264,249 shares of the company’s stock traded hands. 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 $64.51 and its 200-day moving average is $64.45. The company has a market cap of $23.358 billion and a price-to-earnings ratio of 12.66.
Kellogg Company (NYSE:K) last issued its quarterly 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. Investors 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 3.05%. The ex-dividend date of this dividend is Thursday, August 28th. This is an increase from Kellogg Company’s previous quarterly dividend of $0.46.
K has been the subject of a number of recent research reports. 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.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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