Kellogg Company (K) Receives Average Rating of “Hold” from Brokerages
Shares of Kellogg Company (NYSE:K) have been assigned an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $81.33.
A number of equities research analysts recently issued reports on the company. Credit Suisse Group reduced their target price on Kellogg Company from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. TheStreet raised Kellogg Company from a “c+” rating to a “b+” rating in a research note on Thursday, May 4th. Susquehanna Bancshares Inc set a $78.00 price target on Kellogg Company and gave the stock a “hold” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reduced their price target on Kellogg Company from $84.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Friday, May 5th. Finally, Piper Jaffray Companies assumed coverage on Kellogg Company in a research note on Wednesday, May 24th. They set an “overweight” rating and a $78.00 price target on the stock.
In related news, Director John T. Dillon sold 4,900 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James M. Jenness sold 70,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $71.06, for a total value of $4,974,200.00. The disclosure for this sale can be found here. Insiders sold a total of 99,900 shares of company stock worth $7,178,363 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Independent Advisor Alliance purchased a new position in shares of Kellogg Company during the fourth quarter valued at $116,000. Exane Derivatives raised its position in shares of Kellogg Company by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock valued at $134,000 after buying an additional 1,403 shares during the period. Pathstone Family Office LLC purchased a new position in shares of Kellogg Company during the first quarter valued at $143,000. Security National Trust Co. raised its position in shares of Kellogg Company by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock valued at $150,000 after buying an additional 139 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Kellogg Company by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock valued at $161,000 after buying an additional 31 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kellogg Company (NYSE:K) traded down 0.63% during trading on Monday, reaching $71.43. The company had a trading volume of 1,228,019 shares. The firm has a market capitalization of $25.02 billion, a P/E ratio of 32.32 and a beta of 0.49. The firm’s 50 day moving average price is $71.66 and its 200 day moving average price is $72.80. Kellogg Company has a 12 month low of $68.67 and a 12 month high of $87.16.
Kellogg Company (NYSE:K) last posted its earnings results on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. Kellogg Company had a return on equity of 67.99% and a net margin of 6.07%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the company earned $0.97 EPS. Kellogg Company’s revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Kellogg Company will post $3.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Tuesday, May 30th. Kellogg Company’s dividend payout ratio is presently 94.55%.
Kellogg Company Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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