Kellogg Company (NYSE:K) had its price objective trimmed by Morgan Stanley from $70.00 to $66.00 in a research note released on Friday. The firm currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on K. BidaskClub cut Kellogg from a sell rating to a strong sell rating in a research report on Friday, June 23rd. Piper Jaffray Companies cut Kellogg from an overweight rating to a neutral rating and set a $78.00 price objective for the company. in a research report on Tuesday, September 19th. BMO Capital Markets restated a hold rating and issued a $78.00 price objective on shares of Kellogg in a research report on Wednesday, September 6th. Sanford C. Bernstein set a $62.00 price objective on Kellogg and gave the company a sell rating in a research report on Tuesday, June 27th. Finally, UBS AG restated a neutral rating and issued a $72.00 price objective (down from $76.00) on shares of Kellogg in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $73.45.

Kellogg (NYSE:K) opened at 61.96 on Friday. The firm has a 50-day moving average price of $64.83 and a 200 day moving average price of $68.95. Kellogg has a 1-year low of $61.03 and a 1-year high of $78.37. The company has a market capitalization of $21.38 billion, a P/E ratio of 28.05 and a beta of 0.48.

Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. Kellogg’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. On average, equities analysts predict that Kellogg will post $3.98 EPS for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of the stock. Alpha Windward LLC increased its position in shares of Kellogg by 0.4% during the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after purchasing an additional 11 shares in the last quarter. Washington Trust Bank increased its position in shares of Kellogg by 0.8% during the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after purchasing an additional 15 shares in the last quarter. FTB Advisors Inc. increased its position in shares of Kellogg by 0.5% during the second quarter. FTB Advisors Inc. now owns 3,648 shares of the company’s stock worth $251,000 after purchasing an additional 17 shares in the last quarter. Guyasuta Investment Advisors Inc. increased its position in shares of Kellogg by 0.5% during the second quarter. Guyasuta Investment Advisors Inc. now owns 7,498 shares of the company’s stock worth $521,000 after purchasing an additional 40 shares in the last quarter. Finally, Cleararc Capital Inc. increased its position in shares of Kellogg by 0.7% during the first quarter. Cleararc Capital Inc. now owns 6,193 shares of the company’s stock worth $450,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

About Kellogg

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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