Kellogg Company (NYSE:K) received a $81.00 price objective from investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday, October 18th. The firm currently has a “hold” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 33.77% from the stock’s previous close.
Several other brokerages have also recently weighed in on K. Zacks Investment Research cut Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the company a “buy” rating in a research report on Monday, August 7th. BMO Capital Markets reiterated a “hold” rating and set a $78.00 price target on shares of Kellogg in a research report on Wednesday, September 6th. Bank of America Corporation reiterated an “underperform” rating and set a $66.00 price target (down from $72.00) on shares of Kellogg in a research report on Monday, October 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $69.00 price target (down from $74.00) on shares of Kellogg in a research report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Kellogg presently has a consensus rating of “Hold” and an average price target of $72.27.
Kellogg (NYSE K) traded down 0.81% on Wednesday, reaching $60.06. 1,033,267 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $63.87 and its 200 day moving average price is $68.34. The firm has a market capitalization of $20.73 billion, a PE ratio of 27.19 and a beta of 0.48. Kellogg has a 52-week low of $59.82 and a 52-week high of $78.37.
Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, analysts predict that Kellogg will post $3.97 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Kellogg by 2,851.0% during the first quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock valued at $1,464,385,000 after purchasing an additional 19,484,390 shares during the period. Capital Research Global Investors boosted its stake in shares of Kellogg by 54.7% during the second quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock valued at $1,669,244,000 after purchasing an additional 8,495,714 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Kellogg by 94.3% during the second 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 during the period. Renaissance Technologies LLC boosted its stake in shares of Kellogg by 73.4% during the first quarter. Renaissance Technologies LLC now owns 3,157,600 shares of the company’s stock valued at $229,273,000 after purchasing an additional 1,336,400 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Kellogg by 6.6% in the first quarter. Vanguard Group Inc. now owns 20,273,984 shares of the company’s stock worth $1,472,094,000 after acquiring an additional 1,248,613 shares during the period. Institutional investors and hedge funds own 85.45% of the company’s stock.
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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