Kellogg Company (K) Price Target Lowered to $67.00 at UBS AG
A number of other equities research analysts have also recently issued reports on K. Morgan Stanley reissued an equal weight rating and issued a $69.00 price target (down previously from $74.00) on shares of Kellogg in a research note on Tuesday, July 18th. Royal Bank Of Canada dropped their price target on shares of Kellogg from $81.00 to $79.00 and set a sector perform rating on the stock in a research note on Tuesday, August 1st. BMO Capital Markets reissued a hold rating and issued a $85.00 price target on shares of Kellogg in a research note on Friday, August 4th. Susquehanna Bancshares Inc reissued a hold rating on shares of Kellogg in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co raised shares of Kellogg from a neutral rating to an overweight rating and lifted their price target for the company from $76.00 to $78.00 in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $71.00.
Kellogg (NYSE:K) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS.
COPYRIGHT VIOLATION NOTICE: This piece was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/kellogg-company-k-price-target-lowered-to-67-00-at-ubs-ag/1674227.html.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.45%. Kellogg’s payout ratio is currently 96.43%.
Hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in Kellogg by 94.3% in the 2nd quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after purchasing an additional 3,807,425 shares in the last quarter. CIBC World Markets Inc. lifted its holdings in Kellogg by 29.1% in the 2nd quarter. CIBC World Markets Inc. now owns 33,225 shares of the company’s stock valued at $2,308,000 after purchasing an additional 7,487 shares in the last quarter. Cim Investment Mangement Inc. purchased a new position in Kellogg in the 2nd quarter valued at $563,000. Pacer Advisors Inc. lifted its holdings in Kellogg by 157.0% in the 2nd quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock valued at $950,000 after purchasing an additional 8,353 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new position in Kellogg in the 2nd quarter valued at $268,000. Institutional investors own 85.16% of the company’s stock.
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.
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with Analyst Ratings Network's FREE daily email newsletter.