Kellogg Company (K) Given Average Recommendation of “Hold” by Brokerages
Kellogg Company (NYSE:K) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $72.00.
K has been the subject of several recent research reports. Zacks Investment Research cut shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the company a “buy” rating in a research report on Monday, August 7th. BMO Capital Markets reiterated a “hold” rating and set a $78.00 target price on shares of Kellogg in a research report on Wednesday, September 6th. Bank of America Corporation reiterated an “underperform” rating and set a $66.00 target price (down previously from $72.00) on shares of Kellogg in a research report on Monday, October 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $69.00 target price (down previously from $74.00) on shares of Kellogg in a research report on Tuesday, July 18th.
COPYRIGHT VIOLATION WARNING: “Kellogg Company (K) Given Average Recommendation of “Hold” by Brokerages” was posted by American Banking News and is the property of of American Banking News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/22/kellogg-company-k-given-average-recommendation-of-hold-by-brokerages.html.
Several institutional investors and hedge funds have recently added to or reduced their stakes in K. OppenheimerFunds Inc. increased its position in shares of Kellogg by 3.3% in the 1st quarter. OppenheimerFunds Inc. now owns 22,136 shares of the company’s stock valued at $1,607,000 after buying an additional 706 shares in the last quarter. Wellington Management Group LLP bought a new position in Kellogg during the 1st quarter worth about $1,561,000. FMR LLC increased its holdings in Kellogg by 61.0% during the 1st quarter. FMR LLC now owns 1,104,803 shares of the company’s stock worth $80,220,000 after purchasing an additional 418,646 shares in the last quarter. Ngam Advisors L.P. bought a new position in Kellogg during the 1st quarter worth about $744,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Kellogg by 11.8% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 31,285 shares of the company’s stock worth $2,272,000 after purchasing an additional 3,310 shares in the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.
Shares of Kellogg (K) traded down 0.41% during trading on Friday, hitting $61.45. The company had a trading volume of 3,907,968 shares. Kellogg has a 12-month low of $60.96 and a 12-month high of $78.37. The stock has a market cap of $21.21 billion, a PE ratio of 27.81 and a beta of 0.48. The firm has a 50 day moving average of $64.23 and a 200 day moving average of $68.61.
Kellogg (NYSE:K) last issued its earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellogg had a net margin of 8.85% and a return on equity of 58.91%. 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 posted $0.91 EPS. On average, analysts forecast that Kellogg will post $3.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Thursday, November 30th. Kellogg’s dividend payout ratio is currently 97.74%.
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.
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.