Kellogg Company (NYSE:K) had its price target cut by Credit Suisse Group from $70.00 to $65.00 in a research report sent to investors on Friday morning. They currently have a neutral rating on the stock.
A number of other research analysts have also issued reports on K. Piper Jaffray Companies set a $78.00 price objective on shares of Kellogg and gave the company a buy rating in a report on Monday, August 7th. Morgan Stanley reiterated an equal weight rating and issued a $69.00 price objective (down previously from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Deutsche Bank AG reiterated a hold rating and issued a $74.00 price objective (up previously from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. Susquehanna Bancshares Inc reiterated a hold rating on shares of Kellogg in a report on Thursday, August 3rd. Finally, BMO Capital Markets reiterated a hold rating and issued a $85.00 price objective on shares of Kellogg in a report on Friday, August 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $72.55.
Shares of Kellogg (NYSE K) traded down 0.41% during trading on Friday, hitting $61.45. 3,907,968 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $64.23 and its 200-day moving average price is $68.61. Kellogg has a 1-year low of $60.96 and a 1-year high of $78.37. The stock has a market cap of $21.21 billion, a PE ratio of 27.82 and a beta of 0.48.
Kellogg (NYSE:K) last posted its earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, equities analysts expect that Kellogg will post $3.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.16 annualized dividend and a yield of 3.52%. Kellogg’s payout ratio is 97.74%.
A number of institutional investors have recently added to or reduced their stakes in K. OppenheimerFunds Inc. raised its holdings in Kellogg by 3.3% during the 1st quarter. OppenheimerFunds Inc. now owns 22,136 shares of the company’s stock worth $1,607,000 after purchasing an additional 706 shares during the last quarter. Wellington Management Group LLP bought a new position in Kellogg during the 1st quarter worth approximately $1,561,000. FMR LLC grew its position in shares of Kellogg by 61.0% during the 1st quarter. FMR LLC now owns 1,104,803 shares of the company’s stock worth $80,220,000 after buying an additional 418,646 shares during the period. Ngam Advisors L.P. acquired a new stake in shares of Kellogg during the 1st quarter worth approximately $744,000. Finally, Cleararc Capital Inc. grew its position in shares of Kellogg by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 6,193 shares of the company’s stock worth $450,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 85.39% of the company’s stock.
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.
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