Kellogg (NYSE:K) Given “Buy” Rating at GMP Securities
GMP Securities reissued their buy rating on shares of Kellogg (NYSE:K) in a research note released on Thursday, AnalystRatings.com reports.
A number of other research analysts also recently weighed in on the stock. ValuEngine upgraded shares of USINAS SIDERURG/S from a sell rating to a hold rating in a report on Wednesday, May 29th. Piper Jaffray Companies set a $16.00 price target on shares of WPX Energy and gave the company a buy rating in a report on Friday, April 5th. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a buy rating to a hold rating in a report on Tuesday, May 7th. Morgan Stanley set a $56.00 price target on shares of Kellogg and gave the company a hold rating in a report on Tuesday, April 2nd. Finally, Consumer Edge downgraded shares of Kellogg from an equal weight rating to an underweight rating and set a $49.00 price target on the stock. in a report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $62.05.
Kellogg stock opened at $54.55 on Thursday. The company has a market cap of $18.57 billion, a P/E ratio of 12.60, a P/E/G ratio of 3.14 and a beta of 0.63. The firm’s fifty day simple moving average is $55.06. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 2.75. Kellogg has a 1-year low of $51.34 and a 1-year high of $74.98.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.24 annualized dividend and a dividend yield of 4.11%. Kellogg’s dividend payout ratio (DPR) is currently 51.73%.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 600,000 shares of company stock worth $33,769,000. 0.09% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of K. APG Asset Management N.V. boosted its position in shares of Kellogg by 1,277.4% during the 4th quarter. APG Asset Management N.V. now owns 2,658,632 shares of the company’s stock valued at $132,589,000 after acquiring an additional 2,465,620 shares in the last quarter. Norges Bank acquired a new stake in shares of Kellogg during the 4th quarter valued at about $131,475,000. Amundi Pioneer Asset Management Inc. boosted its position in shares of Kellogg by 121.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,361,686 shares of the company’s stock valued at $134,639,000 after acquiring an additional 1,296,445 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in shares of Kellogg by 37.1% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock valued at $163,488,000 after acquiring an additional 771,375 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its position in shares of Kellogg by 13.5% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,894,578 shares of the company’s stock valued at $167,224,000 after acquiring an additional 462,398 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.
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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