Analysts at Pivotal Research initiated coverage on shares of Kellogg (NYSE:K) in a research note issued on Monday. The brokerage set a “buy” rating and a $80.00 price target on the stock. Pivotal Research’s price target indicates a potential upside of 22.23% from the stock’s current price.
Several other research firms have also recently issued reports on K. DZ Bank cut shares of Kellogg from a “buy” rating to a “hold” rating in a report on Friday, December 8th. Citigroup increased their price target on shares of Kellogg from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Argus raised shares of Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Wednesday, November 22nd. UBS Group cut their price target on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Finally, Buckingham Research cut their price target on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $73.07.
Shares of Kellogg (NYSE:K) opened at $65.45 on Monday. Kellogg has a 12 month low of $58.76 and a 12 month high of $76.69. The firm has a market cap of $22,611.18, a PE ratio of 29.22, a PEG ratio of 2.44 and a beta of 0.47. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 180,000 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $67.53, for a total value of $12,155,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John A. Bryant sold 190,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $63.01, for a total transaction of $11,971,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 522,908 shares of company stock valued at $34,031,165. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. increased its stake in shares of Kellogg by 5.9% during the 4th quarter. American Century Companies Inc. now owns 3,236,189 shares of the company’s stock worth $219,996,000 after purchasing an additional 180,047 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Kellogg by 3.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 48,228 shares of the company’s stock worth $3,279,000 after purchasing an additional 1,441 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Kellogg during the 4th quarter worth approximately $128,000. Heartland Advisors Inc. purchased a new position in shares of Kellogg during the 4th quarter worth approximately $4,244,000. Finally, US Bancorp DE increased its stake in shares of Kellogg by 23.1% during the 4th quarter. US Bancorp DE now owns 131,214 shares of the company’s stock worth $8,920,000 after purchasing an additional 24,625 shares in the last quarter. 89.92% of the stock is owned by institutional investors.
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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.
