A number of other research firms also recently issued reports on K. ValuEngine downgraded shares of Kellogg from a buy rating to a hold rating in a report on Thursday. Buckingham Research lifted their price objective on shares of Kellogg from $76.00 to $79.00 and gave the stock a buy rating in a report on Friday, July 20th. Morgan Stanley started coverage on shares of Kellogg in a report on Monday, September 17th. They set an equal weight rating and a $75.00 price objective for the company. Deutsche Bank dropped their price objective on shares of Kellogg from $73.00 to $70.00 and set a hold rating for the company in a report on Thursday. Finally, Zacks Investment Research downgraded shares of Kellogg from a hold rating to a sell rating in a report on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $71.53.
Shares of NYSE:K opened at $63.00 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.84 and a debt-to-equity ratio of 2.41. Kellogg has a one year low of $56.40 and a one year high of $74.98. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.08 and a beta of 0.50.
Kellogg (NYSE:K) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts expect that Kellogg will post 4.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.56%. The ex-dividend date is Friday, November 30th. Kellogg’s dividend payout ratio is presently 55.45%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 215,000 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $74.61, for a total value of $16,041,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 570,000 shares of company stock valued at $41,013,750 over the last three months. 1.40% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its position in shares of Kellogg by 13.2% in the third quarter. Steward Partners Investment Advisory LLC now owns 6,104 shares of the company’s stock valued at $427,000 after acquiring an additional 711 shares during the period. Stonebridge Capital Management Inc. increased its position in shares of Kellogg by 3.8% in the second quarter. Stonebridge Capital Management Inc. now owns 21,000 shares of the company’s stock valued at $1,502,000 after acquiring an additional 775 shares during the period. Kiley Juergens Wealth Management LLC increased 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 acquiring an additional 778 shares during the period. First Midwest Bank Trust Division increased its position in shares of Kellogg by 26.6% in the third quarter. First Midwest Bank Trust Division now owns 3,803 shares of the company’s stock valued at $267,000 after acquiring an additional 800 shares during the period. Finally, Van Hulzen Asset Management LLC increased its position in shares of Kellogg by 1.1% in the second quarter. Van Hulzen Asset Management LLC now owns 76,058 shares of the company’s stock valued at $5,314,000 after acquiring an additional 814 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.
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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