Kellogg Co. (K) Sees Unusually-High Trading Volume
Kellogg Co. (NYSE:K) shares saw unusually-high trading volume on Friday . Approximately 4,614,747 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 3,116,808 shares.The stock last traded at $85.57 and had previously closed at $85.32.
Several equities research analysts have issued reports on K shares. Credit Suisse Group AG restated an “outperform” rating on shares of Kellogg in a report on Wednesday, July 6th. Citigroup Inc. increased their price target on Kellogg from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. Vetr downgraded Kellogg from a “buy” rating to a “hold” rating and set a $78.98 price target for the company. in a report on Tuesday, March 29th. TheStreet upgraded Kellogg from a “hold” rating to a “buy” rating in a report on Friday, May 6th. Finally, Zacks Investment Research downgraded Kellogg from a “buy” rating to a “hold” rating in a report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Kellogg has an average rating of “Hold” and an average price target of $77.12.
The firm has a market capitalization of $30.10 billion and a P/E ratio of 54.81. The stock’s 50 day moving average price is $78.11 and its 200-day moving average price is $75.45.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business earned $3.40 billion during the quarter, compared to analyst estimates of $3.47 billion. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. Equities analysts anticipate that Kellogg Co. will post $3.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, May 27th.
In other Kellogg news, CFO Ronald L. Dissinger sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $77.02, for a total transaction of $3,851,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,749 shares of the company’s stock, valued at approximately $6,450,347.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $76.98, for a total value of $19,245,000.00. The disclosure for this sale can be found here.
A number of hedge funds recently modified their holdings of the company. Amica Mutual Insurance Co. bought a new stake in shares of Kellogg during the fourth quarter worth approximately $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Kellogg by 1.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,671 shares of the company’s stock valued at $1,205,000 after buying an additional 314 shares in the last quarter. Tredje AP fonden raised its position in Kellogg by 1.1% in the fourth quarter. Tredje AP fonden now owns 16,776 shares of the company’s stock valued at $1,212,000 after buying an additional 182 shares in the last quarter. Pittenger & Anderson Inc. raised its position in Kellogg by 3.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 19,705 shares of the company’s stock valued at $1,424,000 after buying an additional 710 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Kellogg by 5.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 21,844 shares of the company’s stock valued at $1,579,000 after buying an additional 1,215 shares in the last quarter.
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
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