Piper Jaffray Companies set a $79.00 price target on Kellogg (NYSE:K) in a report published on Tuesday. The firm currently has a buy rating on the stock. Piper Jaffray Companies also issued estimates for Kellogg’s Q3 2018 earnings at $1.07 EPS, Q4 2018 earnings at $1.05 EPS, Q3 2019 earnings at $1.23 EPS and Q4 2019 earnings at $1.18 EPS.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Co reiterated a hold rating and issued a $67.00 price target (up previously from $62.00) on shares of Kellogg in a report on Sunday, August 5th. Credit Suisse Group raised their price objective on shares of Kellogg from $71.00 to $75.00 and gave the stock a hold rating in a research note on Thursday, August 9th. Buckingham Research raised their price objective on shares of Kellogg from $79.00 to $80.00 and gave the stock a buy rating in a research note on Friday, August 3rd. ValuEngine raised shares of Kellogg from a sell rating to a hold rating in a research note on Tuesday, June 26th. Finally, Morgan Stanley initiated coverage on shares of Kellogg in a research note on Monday, September 17th. They set an equal weight rating and a $75.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $72.71.

NYSE:K traded up $0.97 during midday trading on Tuesday, hitting $70.53. The company’s stock had a trading volume of 8,346 shares, compared to its average volume of 1,847,756. Kellogg has a fifty-two week low of $56.40 and a fifty-two week high of $74.98. The company has a current ratio of 0.82, a quick ratio of 0.50 and a debt-to-equity ratio of 2.57. The company has a market cap of $24.15 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.05 and a beta of 0.49.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Kellogg had a net margin of 13.33% and a return on equity of 59.68%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the company earned $0.97 EPS. Kellogg’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that Kellogg will post 4.52 earnings per share for the current fiscal year.

In other news, Vice Chairman Gary H. Pilnick sold 66,655 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $72.25, for a total transaction of $4,815,823.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of the stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $69.72, for a total value of $14,292,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 636,655 shares of company stock worth $45,829,574 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Large investors have recently made changes to their positions in the company. LFA Lugano Financial Advisors SA purchased a new position in Kellogg in the 2nd quarter valued at $103,000. CSat Investment Advisory L.P. purchased a new position in Kellogg in the 2nd quarter valued at $127,000. Fort L.P. purchased a new position in Kellogg in the 2nd quarter valued at $127,000. Kiley Juergens Wealth Management LLC lifted its holdings in Kellogg by 57.7% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,127 shares of the company’s stock valued at $148,000 after purchasing an additional 778 shares in the last quarter. Finally, ELM Advisors LLC purchased a new position in Kellogg in the 3rd quarter valued at $172,000. Hedge funds and other institutional investors own 89.03% of the company’s stock.

Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Analyst Recommendations for Kellogg (NYSE:K)

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