Kellogg Company (NYSE:K)‘s stock had its “hold” rating restated by equities researchers at Royal Bank Of Canada in a report released on Wednesday. They currently have a $78.00 target price on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 28.97% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley dropped their price objective on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a report on Friday, October 13th. BMO Capital Markets reissued a “hold” rating and issued a $78.00 price objective on shares of Kellogg in a report on Wednesday, September 6th. Credit Suisse Group dropped their price objective on shares of Kellogg from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Bank of America Corporation reissued an “underperform” rating and issued a $66.00 price objective (down previously from $72.00) on shares of Kellogg in a report on Monday, October 9th. Finally, Sanford C. Bernstein set a $62.00 price objective on shares of Kellogg and gave the stock a “sell” rating in a report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Kellogg currently has an average rating of “Hold” and an average price target of $72.27.

Kellogg (NYSE K) traded down 1.18% on Wednesday, reaching $60.48. 4,314,769 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $63.87 and its 200 day moving average price is $68.34. Kellogg has a 52-week low of $60.01 and a 52-week high of $78.37. The company has a market cap of $20.87 billion, a PE ratio of 27.38 and a beta of 0.48.

Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 6.12% and a return on equity of 70.22%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. On average, analysts expect that Kellogg will post $3.98 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alpha Windward LLC increased its position in Kellogg by 0.4% during the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock valued at $179,000 after acquiring an additional 11 shares during the last quarter. Washington Trust Bank increased its position in Kellogg by 0.8% during the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after acquiring an additional 15 shares during the last quarter. FTB Advisors Inc. increased its position in Kellogg by 0.5% during the second quarter. FTB Advisors Inc. now owns 3,648 shares of the company’s stock valued at $251,000 after acquiring an additional 17 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its position in Kellogg by 0.5% during the second quarter. Guyasuta Investment Advisors Inc. now owns 7,498 shares of the company’s stock valued at $521,000 after acquiring an additional 40 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in Kellogg by 1.4% during the second quarter. Wetherby Asset Management Inc. now owns 3,411 shares of the company’s stock valued at $237,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 85.45% 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)

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