Kellogg Co. (K) Trading Down 4.8%
Kellogg Co. (NYSE:K) shares fell 4.8% on Wednesday . The stock traded as low as $82.81 and last traded at $82.82, with a volume of 5,647,601 shares. The stock had previously closed at $86.98.
Several analysts recently commented on K shares. Citigroup Inc. lifted their target price on shares of Kellogg from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. Susquehanna reaffirmed a “hold” rating on shares of Kellogg in a report on Wednesday, May 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $76.00 target price (down previously from $77.00) on shares of Kellogg in a report on Monday, May 9th. Credit Suisse Group AG lifted their target price on shares of Kellogg from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 6th. Finally, Bank of America Corp. reaffirmed a “sell” rating on shares of Kellogg in a report on Saturday, May 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $77.12.
The company has a market capitalization of $28.79 billion and a price-to-earnings ratio of 52.43. The stock has a 50-day moving average price of $78.99 and a 200-day moving average price of $75.75.
Kellogg (NYSE:K) last issued its earnings results on Thursday, May 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm earned $3.40 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, equities analysts anticipate that Kellogg Co. will post $3.69 earnings per share for the current year.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 99,000 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $84.00, for a total transaction of $8,316,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ronald L. Dissinger sold 50,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $77.02, for a total transaction of $3,851,000.00. Following the sale, the chief financial officer now owns 83,749 shares in the company, valued at approximately $6,450,347.98. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in the company. Tredje AP fonden boosted its position in shares of Kellogg by 1.1% in the fourth quarter. Tredje AP fonden now owns 16,776 shares of the company’s stock worth $1,212,000 after buying an additional 182 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Kellogg by 0.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 28,680 shares of the company’s stock worth $2,073,000 after buying an additional 198 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position 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 worth $1,205,000 after buying an additional 314 shares during the last quarter. Pittenger & Anderson Inc. boosted its position in shares of Kellogg by 3.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 19,705 shares of the company’s stock worth $1,424,000 after buying an additional 710 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its position in shares of Kellogg by 3.1% in the fourth quarter. Advantus Capital Management Inc now owns 24,570 shares of the company’s stock worth $1,776,000 after buying an additional 741 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.
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