Kellogg (K) Downgraded by ValuEngine

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ValuEngine lowered shares of Kellogg (NYSE:K) from a hold rating to a sell rating in a research report released on Friday.

Several other analysts have also weighed in on K. Piper Jaffray Companies set a $79.00 price objective on shares of Kellogg and gave the company a buy rating in a research note on Tuesday, October 16th. Zacks Investment Research lowered shares of Kellogg from a hold rating to a sell rating in a research note on Tuesday, October 16th. Buckingham Research lowered their price objective on shares of Kellogg from $80.00 to $77.00 and set a buy rating for the company in a research note on Thursday, November 1st. Deutsche Bank lowered their price objective on shares of Kellogg from $73.00 to $70.00 and set a hold rating for the company in a research note on Thursday, November 1st. Finally, Citigroup lowered their price objective on shares of Kellogg from $87.00 to $79.00 and set a buy rating for the company in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $65.15.

NYSE:K opened at $55.36 on Friday. The firm has a market capitalization of $19.21 billion, a PE ratio of 12.87, a P/E/G ratio of 2.21 and a beta of 0.58. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.70 and a quick ratio of 0.40. Kellogg has a twelve month low of $54.82 and a twelve month high of $74.98.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. Kellogg’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. Analysts forecast that Kellogg will post 4.06 EPS for the current fiscal year.

In other Kellogg news, CFO Fareed A. Khan purchased 8,190 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average price of $62.14 per share, for a total transaction of $508,926.60. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 180,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $62.24, for a total transaction of $11,203,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 580,000 shares of company stock valued at $34,626,200 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Kellogg by 9.0% during the fourth quarter. BlackRock Inc. now owns 26,334,804 shares of the company’s stock valued at $1,501,346,000 after purchasing an additional 2,171,811 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in Kellogg by 327.2% during the fourth quarter. Ceredex Value Advisors LLC now owns 2,077,844 shares of the company’s stock valued at $118,457,000 after purchasing an additional 1,591,469 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Kellogg by 5,672.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock valued at $28,000 after purchasing an additional 1,541,399 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Kellogg by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock valued at $372,017,000 after purchasing an additional 1,076,748 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Kellogg by 70.2% during the third quarter. Morgan Stanley now owns 1,730,012 shares of the company’s stock valued at $121,137,000 after purchasing an additional 713,311 shares during the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.

About Kellogg

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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