Kellogg (NYSE:K) Receives $66.78 Average Price Target from Brokerages

Kellogg (NYSE:K) has earned an average rating of “Hold” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $66.78.

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn reiterated a “buy” rating on shares of Kellogg in a research note on Thursday, August 5th. Morgan Stanley assumed coverage on shares of Kellogg in a research note on Tuesday, September 21st. They issued a “hold” rating and a $64.00 target price for the company. National Bank Financial downgraded shares of Kellogg to a “sector perform” rating in a research note on Tuesday, June 22nd. Finally, Credit Suisse Group cut their price objective on shares of Kellogg from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday, August 30th.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock in a transaction on Friday, September 10th. The shares were sold at an average price of $62.61, for a total value of $5,217,479.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $64.90, for a total transaction of $5,408,376.60. The disclosure for this sale can be found here. Insiders have sold 499,997 shares of company stock worth $31,986,473 over the last ninety days. Insiders own 1.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. bought a new stake in Kellogg in the 1st quarter worth about $1,201,000. Factorial Partners LLC grew its position in Kellogg by 6,664.9% in the 1st quarter. Factorial Partners LLC now owns 2,658,600 shares of the company’s stock worth $42,000,000 after purchasing an additional 2,619,300 shares in the last quarter. tru Independence LLC grew its position in Kellogg by 3.5% in the 1st quarter. tru Independence LLC now owns 89,915 shares of the company’s stock worth $5,691,000 after purchasing an additional 3,045 shares in the last quarter. Rodgers Brothers Inc. grew its position in Kellogg by 1.2% in the 1st quarter. Rodgers Brothers Inc. now owns 74,943 shares of the company’s stock worth $4,744,000 after purchasing an additional 920 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Kellogg by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,019,965 shares of the company’s stock worth $129,939,000 after purchasing an additional 98,226 shares in the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.

Shares of Kellogg stock opened at $61.69 on Monday. The firm has a fifty day moving average of $63.83 and a two-hundred day moving average of $64.18. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 3.52 and a beta of 0.65. Kellogg has a 52 week low of $56.61 and a 52 week high of $68.60. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.48 and a current ratio of 0.76.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, August 5th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.11. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Kellogg had a net margin of 9.27% and a return on equity of 37.51%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. As a group, research analysts forecast that Kellogg will post 4.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were issued a dividend of $0.58 per share. The ex-dividend date was Tuesday, August 31st. This represents a $2.32 annualized dividend and a dividend yield of 3.76%. Kellogg’s dividend payout ratio is presently 58.15%.

About Kellogg

Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).

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Analyst Recommendations for Kellogg (NYSE:K)

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