Kellogg (NYSE:K) had its price objective raised by Morgan Stanley from $69.00 to $70.00 in a research report report published on Friday morning. The firm currently has an equal weight rating on the stock.

K has been the subject of several other research reports. Susquehanna Bancshares set a $71.00 target price on shares of Kellogg and gave the company a hold rating in a report on Tuesday, October 31st. Bank of America upped their price target on shares of Kellogg from $66.00 to $69.00 and gave the company an underperform rating in a research report on Friday. Royal Bank of Canada set a $81.00 price target on shares of Kellogg and gave the company a hold rating in a research report on Wednesday, October 18th. Citigroup reduced their price target on shares of Kellogg from $91.00 to $87.00 and set a buy rating for the company in a research report on Friday. Finally, Buckingham Research reduced their price target on shares of Kellogg from $79.00 to $74.00 and set a buy rating for the company in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Kellogg currently has an average rating of Hold and an average target price of $73.47.

Shares of Kellogg (NYSE K) traded up $1.35 during trading on Friday, hitting $67.33. 4,205,213 shares of the stock traded hands, compared to its average volume of 3,130,000. Kellogg has a fifty-two week low of $58.76 and a fifty-two week high of $76.56. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.43 and a current ratio of 0.68. The firm has a market cap of $23,710.00, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.45 and a beta of 0.47.

Kellogg (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. analysts expect that Kellogg will post 4.32 earnings per share for the current year.

Kellogg declared that its Board of Directors has approved a share buyback program on Friday, December 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.14, for a total transaction of $5,120,394.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $65.00, for a total transaction of $207,675.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,316 shares of company stock valued at $20,381,841. 1.30% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in K. Calton & Associates Inc. purchased a new position in Kellogg during the 4th quarter worth $112,000. CLS Investments LLC purchased a new position in Kellogg during the 3rd quarter worth $124,000. Resources Investment Advisors Inc. raised its position in Kellogg by 65.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,859 shares of the company’s stock worth $127,000 after buying an additional 737 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Kellogg during the 4th quarter worth $128,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in shares of Kellogg in the 4th quarter valued at about $163,000. Institutional investors own 89.92% of the company’s stock.

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About Kellogg

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.

Analyst Recommendations for Kellogg (NYSE:K)

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