Kellogg (NYSE:K) had its price target cut by Buckingham Research from $80.00 to $77.00 in a report issued on Thursday. They currently have a buy rating on the stock.
Several other analysts have also weighed in on the company. Wells Fargo & Co restated a hold rating and issued a $67.00 price objective (up previously from $62.00) on shares of Kellogg in a report on Sunday, August 5th. Credit Suisse Group upped their price objective on Kellogg from $71.00 to $75.00 and gave the company a hold rating in a report on Thursday, August 9th. Zacks Investment Research lowered Kellogg from a hold rating to a sell rating in a report on Tuesday, October 16th. ValuEngine lowered Kellogg from a buy rating to a hold rating in a report on Thursday. Finally, Piper Jaffray Companies set a $79.00 price objective on Kellogg and gave the company a buy rating in a report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Kellogg presently has an average rating of Hold and an average price target of $71.53.
Shares of K stock opened at $63.00 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.84 and a debt-to-equity ratio of 2.41. Kellogg has a 1 year low of $56.40 and a 1 year high of $74.98. The firm has a market cap of $21.84 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 2.08 and a beta of 0.50.
Kellogg (NYSE:K) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.07 by ($0.01). Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that Kellogg will post 4.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, November 30th. Kellogg’s dividend payout ratio is 55.45%.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 150,000 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $71.20, for a total transaction of $10,680,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 570,000 shares of company stock valued at $41,013,750. 1.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in K. LFA Lugano Financial Advisors SA acquired a new position in Kellogg during the second quarter valued at $103,000. Integrated Investment Consultants LLC acquired a new position in Kellogg during the second quarter valued at $110,000. Financial Architects Inc acquired a new position in Kellogg during the third quarter valued at $111,000. CSat Investment Advisory L.P. acquired a new position in Kellogg during the second quarter valued at $127,000. Finally, Fort L.P. acquired a new position in Kellogg during the second quarter valued at $127,000. 88.95% of the stock is owned by institutional investors and hedge funds.
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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