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.

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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.

Analyst Recommendations for Kellogg (NYSE:K)

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