Kellogg (NYSE:K) Receiving Somewhat Positive Media Coverage, Accern Reports
News articles about Kellogg (NYSE:K) have been trending somewhat positive recently, Accern reports. Accern identifies positive and negative press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Kellogg earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned news stories about the company an impact score of 45.8205967779943 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news stories that may have impacted Accern Sentiment’s analysis:
- Zacks: Analysts Expect Kellogg Company (NYSE:K) Will Announce Quarterly Sales of $3.22 Billion (americanbankingnews.com)
- Kellogg Company (K) Position Decreased by Keybank National Association/oh Last Quarter – Modern Readers (modernreaders.com)
- Norges Bank Sells A Little More Kellogg Company (K) Stock In The Last Quarter – Modern Readers (modernreaders.com)
- How The ‘Battling’ Kellogg Brothers Revolutionized American Breakfast (keranews.org)
- Kellogg appoints Mohit Anand to head its India and South Asia Business (bestmediainfo.com)
Several equities analysts recently weighed in on K shares. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $80.00 price target (down previously from $82.00) on shares of Kellogg in a report on Tuesday, April 25th. Royal Bank Of Canada cut their price target on shares of Kellogg from $84.00 to $81.00 and set a “sector perform” rating on the stock in a report on Friday, May 5th. UBS AG cut their price target on shares of Kellogg from $81.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Credit Suisse Group cut their price target on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Finally, TheStreet upgraded shares of Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Kellogg currently has a consensus rating of “Hold” and a consensus price target of $74.50.
Shares of Kellogg (NYSE:K) traded down 0.42% during midday trading on Thursday, hitting $68.75. 2,022,462 shares of the stock were exchanged. The firm has a 50 day moving average of $68.00 and a 200-day moving average of $71.59. Kellogg has a one year low of $65.32 and a one year high of $84.28. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 31.12 and a beta of 0.50.
Kellogg (NYSE:K) last released its earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities analysts expect that Kellogg will post $3.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.14%. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s payout ratio is presently 94.12%.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction that occurred 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. Insiders own 1.30% of the company’s stock.
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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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