Kellogg Company (NYSE:K) had its target price cut by UBS AG from $72.00 to $67.00 in a research report sent to investors on Wednesday morning. They currently have a neutral rating on the stock.

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.

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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.

Analyst Recommendations for Kellogg (NYSE:K)

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