Kellogg Co. (K) Receives Outperform Rating from Credit Suisse Group AG
A number of other research analysts have also issued reports on K. Deutsche Bank AG boosted their price objective on Kellogg from $74.00 to $78.00 and gave the company a hold rating in a research report on Friday, July 29th. Susquehanna restated a hold rating on shares of Kellogg in a research report on Wednesday, August 3rd. Royal Bank Of Canada boosted their price objective on Kellogg from $82.00 to $86.00 and gave the company a sector perform rating in a research report on Friday, August 5th. Argus restated a hold rating on shares of Kellogg in a research report on Friday, August 5th. Finally, Citigroup Inc. reduced their price objective on Kellogg from $100.00 to $90.00 and set a buy rating for the company in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $81.65.
Kellogg (NYSE:K) traded up 0.28% during midday trading on Tuesday, hitting $77.60. The stock had a trading volume of 113,236 shares. Kellogg has a one year low of $64.65 and a one year high of $87.16. The stock has a 50-day moving average price of $80.79 and a 200 day moving average price of $78.68. The firm has a market cap of $27.18 billion, a PE ratio of 44.39 and a beta of 0.45.
Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.91. Kellogg had a return on equity of 56.33% and a net margin of 4.71%. The business earned $3.27 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, analysts predict that Kellogg will post $0.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Tuesday, August 30th. This is an increase from Kellogg’s previous quarterly dividend of $0.50. Kellogg’s dividend payout ratio is 119.54%.
In related news, Vice Chairman Gary H. Pilnick sold 57,870 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $83.36, for a total transaction of $4,824,043.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ronald L. Dissinger sold 6,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $83.71, for a total value of $502,260.00. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in K. Macquarie Group Ltd. increased its stake in shares of Kellogg by 31.7% in the second quarter. Macquarie Group Ltd. now owns 8,300 shares of the company’s stock worth $678,000 after buying an additional 2,000 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Kellogg during the second quarter worth approximately $831,000. Kentucky Retirement Systems purchased a new stake in shares of Kellogg during the second quarter worth approximately $1,750,000. Mason Street Advisors LLC purchased a new stake in shares of Kellogg during the second quarter worth approximately $2,772,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Kellogg by 32.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,395 shares of the company’s stock worth $686,000 after buying an additional 2,045 shares in the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
Receive News & Stock Ratings for Kellogg Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Co. and related stocks with our FREE daily email newsletter.