Traders Sell Kellogg Co. (K) on Strength (K)
Traders sold shares of Kellogg Co. (NYSE:K) on strength during trading on Tuesday. $18.45 million flowed into the stock on the tick-up and $78.37 million flowed out of the stock on the tick-down, for a money net flow of $59.92 million out of the stock. Of all stocks tracked, Kellogg had the 0th highest net out-flow for the day. Kellogg traded up $0.74 for the day and closed at $83.11
K has been the subject of several analyst reports. Credit Suisse Group AG restated an “outperform” rating on shares of Kellogg in a research report on Wednesday, July 6th. Deutsche Bank AG raised their target price on Kellogg from $74.00 to $78.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. BMO Capital Markets restated a “market perform” rating and set a $85.00 target price on shares of Kellogg in a research report on Monday, August 8th. TheStreet upgraded Kellogg from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on Kellogg from $73.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Kellogg presently has an average rating of “Hold” and an average target price of $81.06.
The company has a 50 day moving average price of $82.98 and a 200 day moving average price of $78.09. The company has a market capitalization of $28.64 billion and a price-to-earnings ratio of 46.78.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.91. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts anticipate that Kellogg Co. will post $3.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be given a dividend of $0.52 per share. This is a boost from Kellogg’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Tuesday, August 30th.
In other news, insider Maria Fernanda Mejia sold 35,175 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $83.01, for a total value of $2,919,876.75. Following the completion of the transaction, the insider now directly owns 35,111 shares in the company, valued at approximately $2,914,564.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Gary H. Pilnick sold 57,870 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $83.36, for a total value of $4,824,043.20. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Kellogg stock. State of Tennessee Treasury Department boosted its position in shares of Kellogg Co. (NYSE:K) by 174.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,350 shares of the company’s stock after buying an additional 68,250 shares during the period. State of Tennessee Treasury Department’s holdings in Kellogg were worth $7,758,000 at the end of the most recent 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.