Kellogg Company (K) Given Consensus Rating of “Hold” by Brokerages
Kellogg Company (NYSE:K) has received a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $74.25.
A number of equities analysts have recently weighed in on K shares. Susquehanna Bancshares Inc set a $78.00 target price on Kellogg and gave the company a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research downgraded Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Piper Jaffray Companies started coverage on Kellogg in a report on Wednesday, May 24th. They issued an “overweight” rating and a $78.00 target price on the stock. Sanford C. Bernstein set a $62.00 target price on Kellogg and gave the company a “sell” rating in a report on Tuesday, June 27th. Finally, Credit Suisse Group dropped their target price on Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, May 15th.
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Kellogg (K) traded down 1.33% during midday trading on Tuesday, hitting $69.18. 717,115 shares of the company traded hands. Kellogg has a 12-month low of $65.32 and a 12-month high of $84.28. The company has a market cap of $24.23 billion, a PE ratio of 31.30 and a beta of 0.50. The stock has a 50 day moving average price of $68.54 and a 200-day moving average price of $71.70.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Analysts expect that Kellogg will post $3.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.54 dividend. This is a boost from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. Kellogg’s payout ratio is presently 94.12%.
In related 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 legal filing with the Securities & Exchange Commission, which is available at 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 own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Sage Capital Advisors llc purchased a new stake in shares of Kellogg during the second quarter valued at approximately $837,000. Tobam boosted its stake in shares of Kellogg by 22.1% in the second quarter. Tobam now owns 62,239 shares of the company’s stock valued at $4,323,000 after buying an additional 11,264 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Kellogg by 157.0% in the second quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock valued at $950,000 after buying an additional 8,353 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Kellogg by 29.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 51,355 shares of the company’s stock valued at $3,567,000 after buying an additional 11,534 shares during the last quarter. Finally, Airain ltd purchased a new stake in shares of Kellogg during the second quarter valued at approximately $233,000. 83.53% of the stock is owned by institutional investors and hedge funds.
Kellogg 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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