Kellogg Company (NYSE:K) Given Average Recommendation of “Hold” by Brokerages
Shares of Kellogg Company (NYSE:K) have received an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $74.25.
K has been the subject of several recent research reports. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $80.00 price target (down from $82.00) on shares of Kellogg in a research note on Tuesday, April 25th. Royal Bank Of Canada reduced their price target on Kellogg from $84.00 to $81.00 and set a “sector perform” rating for the company in a research note on Friday, May 5th. UBS AG reduced their price target on Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a research note on Friday, May 5th. Credit Suisse Group reduced their price target on Kellogg from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, May 5th. Finally, TheStreet upgraded Kellogg from a “c+” rating to a “b+” rating in a research note on Thursday, May 4th.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of Kellogg stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Dillon sold 4,900 shares of Kellogg stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Washington Trust Bank boosted its position in Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after buying an additional 15 shares during the period. Exane Derivatives boosted its position in Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares during the period. Pathstone Family Office LLC acquired a new position in Kellogg during the first quarter worth approximately $143,000. Security National Trust Co. boosted its position in Kellogg by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock worth $150,000 after buying an additional 139 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares during the period. 83.53% of the stock is owned by institutional investors.
Shares of Kellogg (NYSE:K) traded down 1.33% on Tuesday, hitting $69.18. The company had a trading volume of 717,115 shares. Kellogg has a 12-month low of $65.32 and a 12-month high of $84.28. The firm has a 50-day moving average price of $68.54 and a 200 day moving average price of $71.70. The company has a market capitalization of $24.23 billion, a P/E ratio of 31.30 and a beta of 0.50.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. Equities analysts expect that Kellogg will post $3.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.08%. Kellogg’s payout ratio is currently 94.12%.
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Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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