Kellogg Company (NYSE:K) has been assigned a consensus recommendation of “Hold” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $71.15.
K has been the subject of several research analyst reports. BMO Capital Markets restated a “hold” rating and issued a $78.00 price objective on shares of Kellogg in a report on Wednesday, September 6th. Piper Jaffray Companies lowered Kellogg from an “overweight” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday, September 19th. Bank of America restated an “underperform” rating and issued a $66.00 price objective (down previously from $72.00) on shares of Kellogg in a report on Monday, October 9th. Morgan Stanley cut their price objective on Kellogg from $70.00 to $66.00 and set an “equal weight” rating for the company in a report on Friday, October 13th. Finally, Royal Bank Of Canada set a $81.00 price objective on Kellogg and gave the company a “hold” rating in a report on Wednesday, October 18th.
In other Kellogg news, CEO Steven A. Cahillane purchased 15,930 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were purchased at an average cost of $62.70 per share, with a total value of $998,811.00. Following the completion of the transaction, the chief executive officer now owns 15,930 shares of the company’s stock, valued at $998,811. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $65.00, for a total value of $207,675.00. The disclosure for this sale can be found here. Insiders have sold 349,754 shares of company stock worth $22,304,119 over the last ninety days. 1.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of K. CLS Investments LLC acquired a new position in Kellogg during the third quarter valued at $124,000. Koch Industries Inc. acquired a new position in Kellogg during the second quarter valued at $217,000. FDO Partners LLC acquired a new position in Kellogg during the third quarter valued at $219,000. Raab & Moskowitz Asset Management LLC acquired a new position in Kellogg in the 2nd quarter worth about $222,000. Finally, Valeo Financial Advisors LLC acquired a new position in Kellogg in the 3rd quarter worth about $224,000. 89.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kellogg (K) traded down $0.74 during mid-day trading on Monday, reaching $66.53. The company’s stock had a trading volume of 2,361,200 shares, compared to its average volume of 2,547,431. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. Kellogg has a one year low of $58.76 and a one year high of $76.69. The firm has a market cap of $22,984.29, a price-to-earnings ratio of 16.63, a PEG ratio of 2.69 and a beta of 0.52.
Kellogg (NYSE:K) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 earnings per share. analysts predict that Kellogg will post 4.03 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, November 30th. Kellogg’s dividend payout ratio (DPR) is presently 96.43%.
Kellogg Company Profile
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.
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