Credit Suisse Group set a $60.00 target price on Kellogg (NYSE:K) in a report published on Tuesday morning, TipRanks reports. The firm currently has a hold rating on the stock.
K has been the topic of a number of other reports. Morgan Stanley upped their target price on Kellogg from $56.00 to $65.00 and gave the stock an equal weight rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of Kellogg from a hold rating to a sell rating and set a $67.00 price target for the company. in a research report on Friday, August 2nd. Barclays set a $62.00 price target on shares of Kellogg and gave the company a sell rating in a research note on Friday, August 2nd. Canaccord Genuity restated an average rating on shares of Kellogg in a research note on Tuesday, June 25th. Finally, ValuEngine upgraded shares of Kellogg from a sell rating to a hold rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $64.28.
K stock traded up $0.86 during mid-day trading on Tuesday, reaching $63.79. The company’s stock had a trading volume of 2,014,553 shares, compared to its average volume of 2,585,246. Kellogg has a 12 month low of $51.34 and a 12 month high of $74.98. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 2.67. The business’s 50 day moving average price is $62.30 and its 200 day moving average price is $57.72. The company has a market cap of $21.85 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.67 and a beta of 0.54.
Kellogg (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.08. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the previous year, the company earned $1.14 EPS. Kellogg’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Kellogg will post 3.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.57%. This is a boost from Kellogg’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, August 30th. Kellogg’s payout ratio is presently 52.66%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $54.95, for a total value of $5,495,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 600,000 shares of company stock worth $35,403,000 over the last three months. 0.09% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Coastal Investment Advisors Inc. boosted its holdings in Kellogg by 117.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock worth $30,000 after buying an additional 304 shares during the period. Penserra Capital Management LLC bought a new stake in Kellogg during the 1st quarter valued at $40,000. AGF Investments LLC raised its holdings in Kellogg by 39.4% during the 2nd quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after acquiring an additional 234 shares during the period. WealthStone Inc. purchased a new stake in shares of Kellogg during the second quarter worth $48,000. Finally, Capital Investment Advisory Services LLC lifted its position in shares of Kellogg by 37.6% during the second quarter. Capital Investment Advisory Services LLC now owns 1,216 shares of the company’s stock worth $69,000 after acquiring an additional 332 shares in the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.
Kellogg Company Profile
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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