Kellogg Co. (K) Stock Price Up 2%
Shares of Kellogg Co. (NYSE:K) rose 2% during mid-day trading on Wednesday . The stock traded as high as $83.21 and last traded at $83.11, with a volume of 1,469,312 shares trading hands. The stock had previously closed at $81.52.
K has been the subject of several analyst reports. Credit Suisse Group AG restated an “outperform” rating on shares of Kellogg in a report on Wednesday, July 6th. Citigroup Inc. upped their target price on Kellogg from $84.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 14th. Vetr cut Kellogg from a “buy” rating to a “hold” rating and set a $78.98 target price 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 cut Kellogg from a “buy” rating to a “hold” rating in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. Kellogg currently has an average rating of “Hold” and an average target price of $77.12.
The stock’s 50 day moving average price is $78.11 and its 200-day moving average price is $75.45. The company has a market cap of $29.84 billion and a P/E ratio of 54.33.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The business earned $3.40 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the firm earned $0.98 EPS. Kellogg’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, equities research analysts expect that Kellogg Co. will post $3.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, May 27th.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 130,000 shares of the company’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $82.44, for a total value of $10,717,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Jenness sold 4,170 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $77.45, for a total value of $322,966.50. Following the completion of the sale, the director now directly owns 108,131 shares of the company’s stock, valued at approximately $8,374,745.95. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Amica Mutual Insurance Co. bought a new stake in shares of Kellogg during the fourth quarter valued at $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of 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 during the last quarter. Tredje AP fonden increased its stake in shares of 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 during the last quarter. Pittenger & Anderson Inc. increased its stake in shares of 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 during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of 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 during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.