Kellogg Company (NYSE:K) was upgraded by investment analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research note issued on Friday, MarketBeat reports.

Several other research analysts have also commented on K. UBS AG cut their price objective on Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Royal Bank Of Canada cut their price objective on Kellogg from $81.00 to $79.00 and set a “sector perform” rating for the company in a report on Tuesday, August 1st. Susquehanna Bancshares Inc reissued a “hold” rating on shares of Kellogg in a report on Thursday. BMO Capital Markets reissued a “hold” rating and set a $85.00 price objective on shares of Kellogg in a report on Friday. Finally, Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $74.44.

Kellogg (NYSE K) traded down 1.05% on Friday, hitting $69.62. 2,864,661 shares of the stock were exchanged. The firm has a market cap of $24.39 billion, a PE ratio of 31.50 and a beta of 0.50. The company has a 50-day moving average price of $68.54 and a 200-day moving average price of $71.70. Kellogg has a 52-week low of $65.32 and a 52-week high of $84.28.

Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Kellogg’s revenue was down 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Kellogg will post $3.93 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This article was published by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/08/06/kellogg-company-nysek-upgraded-by-j-p-morgan-chase-co-to-overweight.html.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The disclosure for this sale can be found here. Insiders sold a total of 99,900 shares of company stock valued at $7,178,363 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Park National Corp OH bought a new stake in shares of Kellogg during the first quarter valued at $301,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Kellogg by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 221,646 shares of the company’s stock valued at $16,094,000 after buying an additional 6,828 shares during the last quarter. Rathbone Brothers plc increased its stake in shares of Kellogg by 9.2% in the first quarter. Rathbone Brothers plc now owns 20,825 shares of the company’s stock valued at $1,512,000 after buying an additional 1,750 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Kellogg by 4.9% in the first quarter. Raymond James Trust N.A. now owns 7,941 shares of the company’s stock valued at $577,000 after buying an additional 371 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Kellogg by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 81,217 shares of the company’s stock valued at $5,897,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 83.59% of the company’s stock.

About Kellogg

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.

Analyst Recommendations for Kellogg (NYSE:K)

Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with MarketBeat.com's FREE daily email newsletter.