Kellogg Co. (K) Sets New 12-Month High at $85.04
Shares of Kellogg Co. (NYSE:K) hit a new 52-week high during trading on Thursday . The stock traded as high as $85.04 and last traded at $84.89, with a volume of 3,550,850 shares traded. The stock had previously closed at $83.11.
Several analysts have commented on K shares. TheStreet raised shares of Kellogg from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Zacks Investment Research raised shares of Kellogg from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Friday, April 22nd. Citigroup Inc. lifted their price objective on shares of Kellogg from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Kellogg in a research report on Sunday, March 27th. Finally, Susquehanna reaffirmed a “hold” rating on shares of Kellogg in a research report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. Kellogg currently has an average rating of “Hold” and a consensus target price of $77.12.
The company has a market capitalization of $30.10 billion and a price-to-earnings ratio of 54.81. The company has a 50-day moving average price of $78.43 and a 200-day moving average price of $75.54.
Kellogg (NYSE:K) last announced its quarterly earnings results 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 company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Equities analysts expect that Kellogg Co. will post $3.69 earnings per share for the current year.
In other news, CFO Ronald L. Dissinger sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $77.02, for a total value of $3,851,000.00. Following the transaction, the chief financial officer now owns 83,749 shares in the company, valued at approximately $6,450,347.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Jenness sold 4,170 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $77.45, for a total transaction of $322,966.50. Following the completion of the transaction, the director now owns 108,131 shares in the company, valued at approximately $8,374,745.95. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in K. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in Kellogg by 6.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 35,132 shares of the company’s stock worth $2,539,000 after buying an additional 2,099 shares during the last quarter. Morgan Stanley boosted its stake in Kellogg by 1.4% in the fourth quarter. Morgan Stanley now owns 892,072 shares of the company’s stock worth $64,469,000 after buying an additional 12,335 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake 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 worth $1,205,000 after buying an additional 314 shares during the last quarter. Baker Chad R purchased a new stake in Kellogg during the fourth quarter worth approximately $2,168,000. Finally, Tredje AP fonden boosted its stake in 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.
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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