Kellogg (K) Rating Lowered to Hold at Pivotal Research

Kellogg (NYSE:K) was downgraded by investment analysts at Pivotal Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.

K has been the topic of a number of other reports. Buckingham Research decreased their price target on Kellogg from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Royal Bank of Canada decreased their price target on Kellogg to $72.00 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Credit Suisse Group decreased their price target on Kellogg from $70.00 to $66.00 and set a “hold” rating on the stock in a report on Wednesday, November 14th. Piper Jaffray Companies set a $79.00 price target on Kellogg and gave the company a “buy” rating in a report on Tuesday, October 16th. Finally, Zacks Investment Research reissued a “sell” rating on shares of Kellogg in a report on Tuesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $69.35.

Shares of K opened at $55.84 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.52 and a debt-to-equity ratio of 2.41. Kellogg has a 12 month low of $55.11 and a 12 month high of $74.98. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.58.

Kellogg (NYSE:K) last issued its earnings results on Thursday, February 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business posted $0.96 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Kellogg will post 4.31 earnings per share for the current year.

In related news, CFO Fareed A. Khan purchased 8,190 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was bought at an average price of $62.14 per share, for a total transaction of $508,926.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven A. Cahillane purchased 17,825 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average price of $61.63 per share, with a total value of $1,098,554.75. The disclosure for this purchase can be found here. Insiders sold 580,000 shares of company stock worth $34,626,200 over the last ninety days. Insiders own 1.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acima Private Wealth LLC acquired a new position in shares of Kellogg during the fourth quarter worth $25,000. Capital Investment Advisory Services LLC acquired a new position in shares of Kellogg during the fourth quarter worth $50,000. Highwater Wealth Management LLC acquired a new position in shares of Kellogg during the fourth quarter worth $70,000. Country Trust Bank increased its position in shares of Kellogg by 12.9% during the third quarter. Country Trust Bank now owns 1,312 shares of the company’s stock worth $102,000 after purchasing an additional 150 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Kellogg by 1,320.0% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,420 shares of the company’s stock worth $116,000 after purchasing an additional 1,320 shares in the last quarter. Institutional investors own 86.55% of the company’s stock.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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