TheStreet upgraded shares of Kellogg (NYSE:K) from a c+ rating to a b- rating in a research note published on Monday morning, TheStreetRatingsTable reports.
K has been the topic of several other reports. Zacks Investment Research cut shares of Kellogg from a hold rating to a sell rating and set a $67.00 target price on the stock. in a report on Friday, August 2nd. Buckingham Research raised their target price on shares of Kellogg from $67.00 to $71.00 and gave the stock a buy rating in a report on Tuesday, August 6th. ValuEngine raised shares of Kellogg from a sell rating to a hold rating in a report on Thursday, August 1st. Canaccord Genuity reaffirmed an average rating on shares of Kellogg in a report on Tuesday, June 25th. Finally, Guggenheim raised their target price on shares of Kellogg from $55.00 to $65.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $63.47.
Shares of K stock opened at $63.52 on Monday. The firm has a 50 day moving average price of $57.93 and a two-hundred day moving average price of $56.89. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 2.67. The company has a market capitalization of $20.96 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61. Kellogg has a 12-month low of $51.34 and a 12-month high of $74.98.
Kellogg (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts expect that Kellogg will post 3.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.59%. This is a boost from Kellogg’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, August 30th. Kellogg’s dividend payout ratio (DPR) is 51.73%.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $54.84, for a total value of $5,484,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 600,000 shares of company stock worth $33,914,000 over the last three months. 0.09% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Alpha Windward LLC boosted its position in Kellogg by 7.1% in the second quarter. Alpha Windward LLC now owns 2,799 shares of the company’s stock valued at $164,000 after buying an additional 185 shares in the last quarter. Moors & Cabot Inc. boosted its position in Kellogg by 3.3% in the first quarter. Moors & Cabot Inc. now owns 6,301 shares of the company’s stock valued at $357,000 after buying an additional 200 shares in the last quarter. 6 Meridian boosted its position in Kellogg by 2.7% in the second quarter. 6 Meridian now owns 8,305 shares of the company’s stock valued at $445,000 after buying an additional 217 shares in the last quarter. Independent Advisor Alliance boosted its position in Kellogg by 2.3% in the second quarter. Independent Advisor Alliance now owns 9,785 shares of the company’s stock valued at $524,000 after buying an additional 223 shares in the last quarter. Finally, AGF Investments LLC boosted its position in Kellogg by 39.4% in the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after buying an additional 234 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.
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. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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