Kellogg (NYSE:K) has been assigned a consensus recommendation of “Hold” from the twenty-two brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $65.00.
A number of analysts recently commented on K shares. Argus increased their price objective on Kellogg from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TheStreet raised Kellogg from a “c+” rating to a “b-” rating in a research note on Monday, August 12th. Zacks Investment Research lowered Kellogg from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research note on Tuesday, October 1st. Credit Suisse Group set a $60.00 price objective on Kellogg and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Guggenheim increased their price objective on Kellogg from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd.
Shares of K traded down $0.36 during trading hours on Monday, reaching $64.05. 1,570,360 shares of the company traded hands, compared to its average volume of 2,400,083. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $21.65 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 3.62 and a beta of 0.52. Kellogg has a fifty-two week low of $51.34 and a fifty-two week high of $65.59. The stock has a fifty day simple moving average of $62.88 and a 200 day simple moving average of $59.77.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Friday, November 29th. Kellogg’s payout ratio is 52.66%.
In other news, SVP Alistair D. Hirst sold 2,500 shares of Kellogg stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $63.88, for a total value of $159,700.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $63.39, for a total value of $6,339,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 625,291 shares of company stock worth $39,465,106. 0.09% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV purchased a new stake in shares of Kellogg during the 3rd quarter valued at about $26,000. Coastal Investment Advisors Inc. raised its holdings in shares of Kellogg by 117.4% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock valued at $30,000 after buying an additional 304 shares during the period. AGF Investments LLC raised its holdings in shares of Kellogg by 39.4% during the 2nd quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after buying an additional 234 shares during the period. Financial Architects Inc raised its holdings in shares of Kellogg by 40.0% during the 3rd quarter. Financial Architects Inc now owns 700 shares of the company’s stock valued at $45,000 after buying an additional 200 shares during the period. Finally, WealthStone Inc. purchased a new stake in shares of Kellogg during the 2nd quarter valued at about $48,000. 87.96% of the stock is currently 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. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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