Pivotal Research started coverage on shares of Kellogg (NYSE:K) in a research report report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $80.00 price objective on the stock.

K has been the topic of a number of other research reports. Susquehanna Bancshares set a $71.00 price target on shares of Kellogg and gave the company a hold rating in a report on Tuesday, October 31st. Morgan Stanley cut their price target on shares of Kellogg from $70.00 to $66.00 and set an equal weight rating on the stock in a report on Friday, October 13th. Royal Bank of Canada set a $81.00 price target on shares of Kellogg and gave the company a hold rating in a report on Wednesday, October 18th. Buckingham Research cut their price target on shares of Kellogg from $79.00 to $74.00 and set a buy rating on the stock in a report on Wednesday, November 1st. Finally, Credit Suisse Group cut their price target on shares of Kellogg from $70.00 to $65.00 and set a neutral rating on the stock in a report on Friday, October 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Kellogg currently has an average rating of Hold and a consensus target price of $73.27.

Shares of Kellogg (NYSE K) opened at $65.98 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. Kellogg has a fifty-two week low of $58.76 and a fifty-two week high of $76.69. The company has a market cap of $22,770.00, a P/E ratio of 29.46, a P/E/G ratio of 2.43 and a beta of 0.47.

Kellogg (NYSE:K) last released its earnings results on Thursday, February 8th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. analysts predict that Kellogg will post 4.04 earnings per share for the current fiscal year.

Kellogg declared that its Board of Directors has approved a share buyback plan on Friday, December 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.14, for a total value of $5,120,394.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $65.00, for a total transaction of $207,675.00. The disclosure for this sale can be found here. Insiders have sold 306,316 shares of company stock worth $20,381,841 over the last ninety days. 1.30% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of K. FMR LLC grew its position in Kellogg by 28.6% in the second quarter. FMR LLC now owns 1,420,316 shares of the company’s stock worth $98,654,000 after acquiring an additional 315,513 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Kellogg by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 591,672 shares of the company’s stock worth $41,095,000 after acquiring an additional 15,096 shares in the last quarter. Numeric Investors LLC grew its position in Kellogg by 68.8% in the second quarter. Numeric Investors LLC now owns 5,400 shares of the company’s stock worth $375,000 after acquiring an additional 2,200 shares in the last quarter. HighTower Advisors LLC grew its position in Kellogg by 3.6% in the second quarter. HighTower Advisors LLC now owns 18,326 shares of the company’s stock worth $1,273,000 after acquiring an additional 637 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Kellogg by 2,619.1% during the 2nd quarter. Janus Henderson Group PLC now owns 870,911 shares of the company’s stock worth $60,493,000 after buying an additional 838,882 shares during the period. 89.92% of the stock is owned by institutional investors.

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About Kellogg

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.

Analyst Recommendations for Kellogg (NYSE:K)

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