Kellogg (NYSE:K) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $66.29 and last traded at $66.13, with a volume of 17411 shares trading hands. The stock had previously closed at $65.65.
A number of analysts have recently commented on K shares. Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a research note on Tuesday, October 1st. Edward Jones upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. 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. Royal Bank of Canada started coverage on shares of Kellogg in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $65.00 target price for the company. Finally, TheStreet upgraded shares of Kellogg from a “c+” rating to a “b-” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $63.20.
The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 2.45. The stock has a market cap of $22.21 billion, a P/E ratio of 15.22, a PEG ratio of 3.72 and a beta of 0.52. The company’s 50 day moving average price is $63.65 and its two-hundred day moving average price is $60.42.
Kellogg (NYSE:K) last announced its earnings results on Tuesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.12. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Kellogg will post 3.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.28 annualized dividend and a yield of 3.46%. Kellogg’s payout ratio is presently 52.66%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Fernanda Mejia sold 2,136 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $63.70, for a total value of $136,063.20. Following the completion of the transaction, the senior vice president now directly owns 25,721 shares in the company, valued at approximately $1,638,427.70. The disclosure for this sale can be found here. Insiders have sold a total of 625,291 shares of company stock worth $39,662,106 in the last quarter. Corporate insiders own 0.09% of the company’s stock.
Several large investors have recently made changes to their positions in K. Voya Investment Management LLC increased its stake in Kellogg by 733.1% in the 3rd quarter. Voya Investment Management LLC now owns 1,279,280 shares of the company’s stock worth $82,321,000 after buying an additional 1,125,723 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Kellogg during the second quarter valued at $54,543,000. State Street Corp grew its stake in Kellogg by 5.9% during the third quarter. State Street Corp now owns 12,963,660 shares of the company’s stock valued at $834,212,000 after acquiring an additional 725,882 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Kellogg by 12.7% during the second quarter. Renaissance Technologies LLC now owns 5,523,983 shares of the company’s stock valued at $295,920,000 after purchasing an additional 623,700 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Kellogg by 275.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 815,645 shares of the company’s stock worth $43,694,000 after acquiring an additional 598,580 shares during the last quarter. Institutional investors own 86.95% of the company’s stock.
Kellogg Company Profile (NYSE:K)
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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