Brokerages Set Kellogg Co. (K) Target Price at $83.63
Shares of Kellogg Co. (NYSE:K) have been given an average recommendation of “Hold” by the eighteen brokerages that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $83.63.
A number of equities research analysts have commented on the company. Credit Suisse Group AG reiterated an “outperform” rating and issued a $94.00 price target on shares of Kellogg in a research note on Tuesday, August 30th. Morgan Stanley reiterated a “hold” rating and issued a $79.00 price target on shares of Kellogg in a research note on Thursday, September 1st. Susquehanna reiterated a “hold” rating on shares of Kellogg in a research note on Wednesday, September 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $85.00 price target on shares of Kellogg in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on Kellogg from $73.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, August 5th.
In other news, CFO Ronald L. Dissinger sold 5,843 shares of Kellogg stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $74.88, for a total value of $437,523.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Gary H. Pilnick sold 5,036 shares of Kellogg stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $74.88, for a total value of $377,095.68. The disclosure for this sale can be found here. 8.80% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. LLBH Private Wealth Management LLC raised its stake in shares of Kellogg by 0.3% in the third quarter. LLBH Private Wealth Management LLC now owns 2,788 shares of the company’s stock worth $216,000 after buying an additional 7 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Kellogg by 0.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,204 shares of the company’s stock worth $171,000 after buying an additional 15 shares in the last quarter. Investors Capital Advisory Services raised its stake in shares of Kellogg by 0.5% in the second quarter. Investors Capital Advisory Services now owns 3,068 shares of the company’s stock worth $250,000 after buying an additional 16 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Kellogg by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,970 shares of the company’s stock worth $617,000 after buying an additional 20 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Kellogg by 0.6% in the third quarter. Brighton Jones LLC now owns 3,593 shares of the company’s stock worth $278,000 after buying an additional 23 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
Kellogg (NYSE:K) opened at 72.00 on Monday. The company has a market capitalization of $25.27 billion, a PE ratio of 36.24 and a beta of 0.55. Kellogg has a 12 month low of $68.20 and a 12 month high of $87.16. The firm’s 50-day moving average is $74.25 and its 200-day moving average is $78.14.
Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $878.20 million. Kellogg had a return on equity of 61.36% and a net margin of 5.41%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. Equities analysts anticipate that Kellogg will post $3.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, November 29th. Kellogg’s payout ratio is currently 105.05%.
Kellogg Company Profile
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.
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