Shares of Kellogg (NYSE:K) have been assigned an average recommendation of “Hold” from the twenty brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $71.29.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Kellogg from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Friday, March 16th. Credit Suisse Group set a $63.00 price target on shares of Kellogg and gave the stock a “hold” rating in a research note on Monday, April 16th. Morgan Stanley decreased their price target on shares of Kellogg from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $72.00 price target on shares of Kellogg in a research note on Tuesday, April 24th.
Kellogg traded up $0.20, hitting $69.87, during mid-day trading on Friday, Marketbeat.com reports. 2,226,200 shares of the company’s stock traded hands, compared to its average volume of 3,012,685. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 3.09. Kellogg has a 1 year low of $56.40 and a 1 year high of $71.65. The company has a market capitalization of $23.99 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 2.12 and a beta of 0.51.
Kellogg (NYSE:K) last posted its earnings results on Thursday, May 3rd. The company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.11. Kellogg had a net margin of 11.10% and a return on equity of 67.81%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. equities research analysts predict that Kellogg will post 4.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were given a $0.54 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $2.16 annualized dividend and a dividend yield of 3.09%. Kellogg’s dividend payout ratio is presently 53.47%.
In other Kellogg news, SVP Amit Banati sold 1,992 shares of Kellogg stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $65.03, for a total transaction of $129,539.76. Following the transaction, the senior vice president now directly owns 19,619 shares of the company’s stock, valued at $1,275,823.57. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 200,000 shares of Kellogg stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $63.57, for a total transaction of $12,714,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 786,992 shares of company stock worth $51,169,290. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in K. Baird Financial Group Inc. raised its stake in shares of Kellogg by 41.7% during the fourth quarter. Baird Financial Group Inc. now owns 26,413 shares of the company’s stock valued at $1,796,000 after purchasing an additional 7,778 shares during the period. Brown Advisory Inc. raised its stake in shares of Kellogg by 9.5% during the fourth quarter. Brown Advisory Inc. now owns 14,086 shares of the company’s stock valued at $958,000 after purchasing an additional 1,222 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Kellogg by 14.7% during the fourth quarter. OppenheimerFunds Inc. now owns 30,816 shares of the company’s stock valued at $2,094,000 after purchasing an additional 3,938 shares during the period. Standard Life Aberdeen plc raised its stake in shares of Kellogg by 2.4% during the fourth quarter. Standard Life Aberdeen plc now owns 84,654 shares of the company’s stock valued at $5,756,000 after purchasing an additional 2,006 shares during the period. Finally, Bbva Compass Bancshares Inc. raised its stake in shares of Kellogg by 21.9% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 6,305 shares of the company’s stock valued at $429,000 after purchasing an additional 1,134 shares during the period. 88.84% of the stock is currently owned by hedge funds and other institutional investors.
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. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.
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