Shares of Kellogg (NYSE:K) have earned an average recommendation of “Hold” from the twenty-one brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $65.69.
K has been the topic of several research reports. Buckingham Research dropped their price target on Kellogg from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Royal Bank of Canada dropped their target price on Kellogg to $72.00 and set a “market perform” rating on the stock in a research report on Thursday, November 1st. Credit Suisse Group dropped their target price on Kellogg from $70.00 to $66.00 and set a “hold” rating on the stock in a research report on Wednesday, November 14th. Piper Jaffray Companies set a $79.00 target price on Kellogg and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Finally, Zacks Investment Research reaffirmed a “sell” rating on shares of Kellogg in a research report on Tuesday, November 13th.
In other Kellogg news, Chairman Steven A. Cahillane purchased 17,825 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was bought at an average price of $61.63 per share, with a total value of $1,098,554.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Fareed A. Khan purchased 8,190 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was acquired at an average cost of $62.14 per share, with a total value of $508,926.60. The disclosure for this purchase can be found here. Insiders sold 580,000 shares of company stock worth $34,626,200 over the last ninety days. 1.40% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Sun Life Financial INC grew its stake in shares of Kellogg by 0.9% in the fourth quarter. Sun Life Financial INC now owns 21,889 shares of the company’s stock worth $1,249,000 after purchasing an additional 199 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Kellogg by 0.6% in the fourth quarter. Moody National Bank Trust Division now owns 34,785 shares of the company’s stock worth $1,983,000 after purchasing an additional 215 shares in the last quarter. Northside Capital Management LLC boosted its stake in Kellogg by 3.0% during the fourth quarter. Northside Capital Management LLC now owns 8,205 shares of the company’s stock valued at $468,000 after buying an additional 241 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Kellogg by 1.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,203 shares of the company’s stock valued at $1,152,000 after buying an additional 262 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Kellogg by 1.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,514 shares of the company’s stock valued at $1,569,000 after buying an additional 340 shares in the last quarter. 86.55% of the stock is owned by institutional investors.
Shares of K stock traded down $0.48 on Friday, hitting $55.36. 5,316,907 shares of the stock traded hands, compared to its average volume of 2,470,887. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 2.60. The firm has a market cap of $19.38 billion, a P/E ratio of 12.79, a P/E/G ratio of 2.16 and a beta of 0.58. Kellogg has a 1-year low of $54.82 and a 1-year high of $74.98.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, February 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. On average, research analysts forecast that Kellogg will post 4.18 EPS for the current fiscal year.
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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