Kellogg Company (K) Rating Reiterated by Bank of America Corporation

Kellogg Company (NYSE:K)‘s stock had its “underperform” rating reaffirmed by Bank of America Corporation in a report issued on Monday. They presently have a $66.00 target price on the stock, down from their prior target price of $72.00. Bank of America Corporation’s price objective would suggest a potential upside of 7.37% from the stock’s current price.

Several other research firms have also commented on K. Susquehanna Bancshares Inc set a $78.00 price target on shares of Kellogg and gave the company a “hold” rating in a research report on Wednesday, June 14th. Sanford C. Bernstein set a $62.00 price target on shares of Kellogg and gave the company a “sell” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Kellogg from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co raised shares of Kellogg from a “neutral” rating to an “overweight” rating and upped their price target for the company from $76.00 to $78.00 in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $73.73.

Kellogg (NYSE:K) opened at 61.47 on Monday. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 27.83 and a beta of 0.48. Kellogg has a 12 month low of $61.03 and a 12 month high of $78.37. The firm’s 50-day moving average is $65.55 and its 200-day moving average is $69.19.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts anticipate that Kellogg will post $3.98 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of K. Westpac Banking Corp boosted its stake in Kellogg by 6.5% in the 1st quarter. Westpac Banking Corp now owns 236,905 shares of the company’s stock worth $18,135,000 after purchasing an additional 14,429 shares during the period. Alliancebernstein L.P. boosted its stake in Kellogg by 5.7% in the 1st quarter. Alliancebernstein L.P. now owns 488,951 shares of the company’s stock worth $35,503,000 after purchasing an additional 26,546 shares during the period. LMR Partners LLP bought a new position in Kellogg in the 1st quarter worth approximately $622,000. Credit Agricole S A boosted its stake in Kellogg by 49.1% in the 1st quart

Several other research firms have also commented on K. Susquehanna Bancshares Inc set a $78.00 price target on shares of Kellogg and gave the company a “hold” rating in a research report on Wednesday, June 14th. Sanford C. Bernstein set a $62.00 price target on shares of Kellogg and gave the company a “sell” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Kellogg from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co raised shares of Kellogg from a “neutral” rating to an “overweight” rating and upped their price target for the company from $76.00 to $78.00 in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $73.73.

Kellogg (NYSE:K) opened at 61.47 on Monday. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 27.83 and a beta of 0.48. Kellogg has a 12 month low of $61.03 and a 12 month high of $78.37. The firm’s 50-day moving average is $65.55 and its 200-day moving average is $69.19.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts anticipate that Kellogg will post $3.98 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Kellogg Company (K) Rating Reiterated by Bank of America Corporation” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://ledgergazette.com/2017/10/11/kellogg-company-k-rating-reiterated-by-bank-of-america-corporation.html.

A number of hedge funds have recently bought and sold shares of K. Westpac Banking Corp boosted its stake in Kellogg by 6.5% in the 1st quarter. Westpac Banking Corp now owns 236,905 shares of the company’s stock worth $18,135,000 after purchasing an additional 14,429 shares during the period. Alliancebernstein L.P. boosted its stake in Kellogg by 5.7% in the 1st quarter. Alliancebernstein L.P. now owns 488,951 shares of the company’s stock worth $35,503,000 after purchasing an additional 26,546 shares during the period. LMR Partners LLP bought a new position in Kellogg in the 1st quarter worth approximately $622,000. Credit Agricole S A boosted its stake in Kellogg by 49.1% in the 1st quarter. Credit Agricole S A now owns 312,623 shares of the company’s stock worth $22,699,000 after purchasing an additional 102,978 shares during the period. Finally, OppenheimerFunds Inc. boosted its stake in Kellogg by 3.3% in the 1st quarter. OppenheimerFunds Inc. now owns 22,136 shares of the company’s stock worth $1,607,000 after purchasing an additional 706 shares during the period. Institutional investors and hedge funds own 85.40% of the company’s stock.

About Kellogg

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.

Analyst Recommendations for Kellogg (NYSE:K)

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