Several analysts have recently updated their ratings and price targets for Kellogg (NYSE: K):

  • 8/9/2017 – Kellogg had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $74.00 price target on the stock, up previously from $71.00.
  • 8/7/2017 – Kellogg had its price target raised by analysts at Royal Bank Of Canada from $79.00 to $81.00. They now have a “sector perform” rating on the stock.
  • 8/7/2017 – Kellogg was given a new $78.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 8/4/2017 – Kellogg was upgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating. They now have a $78.00 price target on the stock, up previously from $76.00.
  • 8/4/2017 – Kellogg was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Kellogg posted better-than-expected results in the second quarter primarily on cost savings. However, the company’s total sales declined 2.5% year over year (3.1% organically), marking the 10th straight quarter of revenue decline owing to industry-wide soft consumption trends for packaged food items. The weakness can be traced back to soft consumer demand across most parts of North America and Europe. However, cost savings from its Project K and Zero-Based Budgeting (ZBB) have been supporting renovation, innovation, brand support and margins. Kellogg reiterated its 2017 guidance calling for 8—10% EPS growth based on a 3% decline in underlying sales and 7—9% underlying operating profit growth. Cost savings are providing support for margin expansion, but a weak top line is limiting Kellogg’s ability to leverage it.”
  • 8/4/2017 – Kellogg had its price target lowered by analysts at BMO Capital Markets from $85.00 to $78.00. They now have a “market perform” rating on the stock.
  • 8/4/2017 – Kellogg had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $85.00 price target on the stock.
  • 8/3/2017 – Kellogg had its “hold” rating reaffirmed by analysts at Susquehanna Bancshares Inc.
  • 8/1/2017 – Kellogg had its price target lowered by analysts at Royal Bank Of Canada from $81.00 to $79.00. They now have a “sector perform” rating on the stock.
  • 7/18/2017 – Kellogg had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $69.00 price target on the stock, down previously from $74.00.
  • 7/18/2017 – Kellogg had its “neutral” rating reaffirmed by analysts at UBS AG. They now have a $72.00 price target on the stock, down previously from $76.00.
  • 6/27/2017 – Kellogg was given a new $62.00 price target on by analysts at Sanford C. Bernstein. They now have a “sell” rating on the stock.
  • 6/23/2017 – Kellogg was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/14/2017 – Kellogg was given a new $78.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “hold” rating on the stock.
  • 6/12/2017 – Kellogg was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Kellogg shares have been lagging the broader Zacks categorized Food-Miscellaneous/Diversified industry year-to-date. The company has been struggling to raise sales over the past two years mainly due to weak performance in its developed market cereals and U.S. snacks businesses. Kellogg’s total sales decreased 4.1% in the first quarter, marking the ninth straight quarter of revenue decline. However, cost savings from its Project K and Zero-Based Budgeting (ZBB) have been supporting renovation, innovation, brand support and margins. Kellogg remains on track to achieve its 2018 profit-margin goal of 18%. Although the company maintained it 2017 earnings guidance, it lowered its sales outlook for the year. Cost savings are providing support for margin expansion, but a weak top line is limiting Kellogg’s ability to leverage it.”

Kellogg Company (K) opened at 68.75 on Friday. The firm has a 50-day moving average of $67.95 and a 200-day moving average of $71.57. Kellogg Company has a 52-week low of $65.32 and a 52-week high of $84.01. The firm has a market cap of $23.73 billion, a PE ratio of 31.12 and a beta of 0.50.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $0.91 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts anticipate that Kellogg Company will post $3.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 30th. Kellogg’s dividend payout ratio (DPR) is presently 94.12%.

In other Kellogg news, Director John T. Dillon sold 4,900 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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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