Shares of Kellogg (NYSE:K) have been assigned a consensus recommendation of “Hold” from the twenty research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $71.29.
Several brokerages recently weighed in on K. Zacks Investment Research upgraded shares of Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Thursday, April 5th. Susquehanna Bancshares set a $63.00 price objective on Kellogg and gave the stock a “hold” rating in a research report on Thursday, May 3rd. Stifel Nicolaus lowered their price objective on Kellogg from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. Deutsche Bank lowered their price objective on Kellogg from $68.00 to $64.00 and set a “hold” rating on the stock in a research report on Friday, May 4th. Finally, Morgan Stanley lowered their price objective on Kellogg from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 18th.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 175,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $61.37, for a total transaction of $10,739,750.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Fareed A. Khan bought 8,080 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were acquired at an average price of $61.78 per share, for a total transaction of $499,182.40. Following the transaction, the chief financial officer now directly owns 8,080 shares in the company, valued at $499,182.40. The disclosure for this purchase can be found here. Insiders have sold a total of 786,992 shares of company stock worth $51,169,290 in the last quarter. Insiders own 1.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. NuWave Investment Management LLC purchased a new position in Kellogg in the 1st quarter valued at $139,000. QCI Asset Management Inc. NY lifted its holdings in Kellogg by 985.2% in the 1st quarter. QCI Asset Management Inc. NY now owns 2,203 shares of the company’s stock valued at $143,000 after purchasing an additional 2,000 shares in the last quarter. Huber Financial Advisors LLC acquired a new stake in shares of Kellogg in the 1st quarter worth $205,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Kellogg in the 1st quarter worth $213,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Kellogg in the 4th quarter worth $235,000. Institutional investors own 88.84% of the company’s stock.
Shares of Kellogg opened at $69.87 on Friday, Marketbeat reports. Kellogg has a twelve month low of $56.40 and a twelve month high of $71.65. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.47 and a current ratio of 0.74. The company has a market capitalization of $24.23 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 2.14 and a beta of 0.52.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.11. Kellogg had a net margin of 11.10% and a return on equity of 67.81%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the company earned $1.06 EPS. Kellogg’s quarterly revenue was up 4.7% on a year-over-year basis. analysts forecast that Kellogg will post 4.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were given a dividend of $0.54 per share. The ex-dividend date was Thursday, May 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.09%. Kellogg’s dividend payout ratio (DPR) is 53.47%.
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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