Brokerages Set Kellogg (NYSE:K) PT at $67.92

Shares of Kellogg (NYSE:K) have received a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $67.92.

A number of analysts have issued reports on the company. BMO Capital Markets raised their target price on Kellogg from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, May 7th. Citigroup reduced their price objective on Kellogg from $75.00 to $72.00 in a research report on Tuesday, February 16th. SVB Leerink reiterated a “buy” rating on shares of Kellogg in a research report on Thursday, May 13th. Morgan Stanley raised their price objective on Kellogg from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Kellogg from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, April 28th.

K opened at $65.30 on Tuesday. The firm has a market cap of $22.23 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 3.61 and a beta of 0.65. The firm has a 50 day simple moving average of $64.82. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.68 and a quick ratio of 0.43. Kellogg has a 12-month low of $56.61 and a 12-month high of $72.88.

Kellogg (NYSE:K) last released its earnings results on Thursday, May 6th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.15. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.38 billion. Kellogg had a return on equity of 39.78% and a net margin of 9.12%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. As a group, equities research analysts expect that Kellogg will post 4.09 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, May 28th. This is an increase from Kellogg’s previous quarterly dividend of $0.57. Kellogg’s dividend payout ratio (DPR) is 58.15%.

In other Kellogg news, SVP Christopher M. Hood sold 3,000 shares of Kellogg stock in a transaction on Monday, May 10th. The stock was sold at an average price of $67.15, for a total value of $201,450.00. Following the completion of the transaction, the senior vice president now owns 31,729 shares in the company, valued at approximately $2,130,602.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock in a transaction on Monday, May 10th. The shares were sold at an average price of $67.55, for a total value of $5,629,144.15. The disclosure for this sale can be found here. Insiders have sold a total of 419,668 shares of company stock valued at $27,129,035 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of K. CVA Family Office LLC acquired a new stake in shares of Kellogg in the 1st quarter valued at $25,000. E Fund Management Co. Ltd. acquired a new stake in shares of Kellogg in the 1st quarter valued at $28,000. Perigon Wealth Management LLC acquired a new stake in shares of Kellogg in the 4th quarter valued at $29,000. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Kellogg in the 1st quarter valued at $29,000. Finally, Kempen Capital Management N.V. increased its stake in shares of Kellogg by 72.9% in the 4th quarter. Kempen Capital Management N.V. now owns 505 shares of the company’s stock valued at $31,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 86.28% of the company’s stock.

Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars and bites, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

Featured Article: Do equity income investments outperform growth and income investments?

Analyst Recommendations for Kellogg (NYSE:K)

Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.