Kellogg (NYSE:K) – Research analysts at Piper Jaffray Companies raised their Q4 2018 earnings estimates for shares of Kellogg in a note issued to investors on Monday, October 15th. Piper Jaffray Companies analyst M. Lavery now anticipates that the company will earn $1.05 per share for the quarter, up from their prior estimate of $1.01. Piper Jaffray Companies currently has a “Buy” rating and a $79.00 target price on the stock.
Several other brokerages have also recently issued reports on K. Morgan Stanley assumed 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 for the company. Wells Fargo & Co reissued a “hold” rating and set a $67.00 price objective (up from $62.00) on shares of Kellogg in a research note on Sunday, August 5th. Credit Suisse Group boosted their price objective on shares of Kellogg from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, August 9th. Buckingham Research boosted their price objective on shares of Kellogg from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.71.
K stock opened at $69.56 on Thursday. The company has a market capitalization of $24.27 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.03 and a beta of 0.49. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.82 and a quick ratio of 0.50. Kellogg has a one year low of $56.40 and a one year high of $74.98.
Kellogg (NYSE:K) last released its earnings results on Thursday, August 2nd. The company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Kellogg had a net margin of 13.33% and a return on equity of 59.68%. Kellogg’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 215,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $74.61, for a total transaction of $16,041,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gary H. Pilnick sold 66,655 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $72.25, for a total transaction of $4,815,823.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 636,655 shares of company stock worth $45,829,574. Company insiders own 1.40% of the company’s stock.
Several large investors have recently made changes to their positions in K. LFA Lugano Financial Advisors SA purchased a new stake in shares of Kellogg in the second quarter valued at approximately $103,000. Integrated Investment Consultants LLC purchased a new stake in shares of Kellogg in the second quarter valued at approximately $110,000. CSat Investment Advisory L.P. purchased a new stake in shares of Kellogg in the second quarter valued at approximately $127,000. Fort L.P. purchased a new stake in shares of Kellogg in the second quarter valued at approximately $127,000. Finally, Kiley Juergens Wealth Management LLC grew its position in shares of Kellogg by 57.7% in the third 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. 88.95% of the stock is owned by institutional investors and hedge funds.
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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