Shares of Kellogg (NYSE:K) have been assigned a consensus recommendation of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $71.15.

Several equities research analysts recently issued reports on the stock. UBS Group reduced their price objective on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Bank of America reaffirmed an “underperform” rating and issued a $66.00 price objective (down previously from $72.00) on shares of Kellogg in a research note on Monday, October 9th. Piper Jaffray Companies set a $72.00 price objective on shares of Kellogg and gave the company a “hold” rating in a research note on Tuesday, October 31st. Susquehanna Bancshares set a $71.00 price objective on shares of Kellogg and gave the company a “hold” rating in a research note on Tuesday, October 31st. Finally, Morgan Stanley reduced their price objective on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating for the company in a research note on Friday, October 13th.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $65.14, for a total transaction of $5,120,394.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $65.11, for a total transaction of $2,898,371.65. Following the transaction, the insider now directly owns 67,887,323 shares of the company’s stock, valued at approximately $4,420,143,600.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 349,754 shares of company stock valued at $22,304,119. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of Kellogg by 94.3% during the second quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after buying an additional 3,807,425 shares during the last quarter. CIBC World Markets Inc. lifted its holdings in Kellogg by 29.1% in the second quarter. CIBC World Markets Inc. now owns 33,225 shares of the company’s stock valued at $2,308,000 after buying an additional 7,487 shares during the period. CORDA Investment Management LLC. lifted its holdings in Kellogg by 45.4% in the second quarter. CORDA Investment Management LLC. now owns 234,034 shares of the company’s stock valued at $16,255,000 after buying an additional 73,076 shares during the period. Engineers Gate Manager LP acquired a new position in Kellogg in the second quarter valued at approximately $2,086,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Kellogg in the second quarter valued at approximately $4,404,000. 89.59% of the stock is owned by institutional investors and hedge funds.

Kellogg (K) traded up $1.08 during midday trading on Friday, reaching $68.73. 2,438,800 shares of the company’s stock traded hands, compared to its average volume of 2,546,767. Kellogg has a 12-month low of $58.76 and a 12-month high of $76.69. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.43 and a current ratio of 0.68. The stock has a market cap of $23,730.00, a PE ratio of 30.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.52.

Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the previous year, the company posted $0.96 EPS. Kellogg’s revenue was up .6% on a year-over-year basis. equities research analysts expect that Kellogg will post 4.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, November 30th. Kellogg’s dividend payout ratio is 96.43%.

Kellogg declared that its board has authorized a share buyback program on Friday, December 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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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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