Kellogg Company (K) Receives Average Recommendation of “Hold” from Brokerages
Kellogg Company (NYSE:K) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $71.00.
A number of brokerages recently issued reports on K. BMO Capital Markets decreased their price target on shares of Kellogg from $85.00 to $78.00 and set a “market perform” rating for the company in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. J P Morgan Chase & Co upgraded shares of Kellogg from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $76.00 to $78.00 in a research note on Friday, August 4th. Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Kellogg in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $78.00 price target on shares of Kellogg and gave the stock a “buy” rating in a research note on Monday, August 7th.
In other news, Director Donald R. Knauss sold 6,846 shares of Kellogg stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total value of $428,354.22. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $312,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven A. Cahillane bought 15,930 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was acquired at an average cost of $62.70 per share, for a total transaction of $998,811.00. Following the completion of the acquisition, the chief executive officer now directly owns 15,930 shares in the company, valued at $998,811. The disclosure for this purchase can be found here. Insiders have sold a total of 223,438 shares of company stock valued at $14,077,678 in the last 90 days. Insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Washington Trust Bank increased its stake in Kellogg by 0.8% in the 2nd quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after buying an additional 15 shares during the period. CLS Investments LLC acquired a new position in Kellogg in the 3rd quarter valued at $124,000. Exane Derivatives grew its stake in shares of Kellogg by 24.2% during the 2nd quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after purchasing an additional 448 shares during the period. CWM LLC grew its stake in shares of Kellogg by 5.3% during the 2nd quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after purchasing an additional 117 shares during the period. Finally, Alpha Windward LLC grew its stake in shares of Kellogg by 0.4% during the 2nd quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after purchasing an additional 11 shares during the period. 86.85% of the stock is currently owned by institutional investors.
Kellogg (K) traded down $1.21 during midday trading on Thursday, hitting $64.35. 3,875,627 shares of the stock traded hands, compared to its average volume of 2,540,026. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71. Kellogg has a twelve month low of $58.76 and a twelve month high of $76.69. The stock has a market capitalization of $22,580.09, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 2.64 and a beta of 0.49.
Kellogg (NYSE:K) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. analysts forecast that Kellogg will post 4.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.36%. Kellogg’s dividend payout ratio is presently 96.43%.
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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.
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