Kellogg (K) Given a $66.00 Price Target at Deutsche Bank
Kellogg (NYSE:K) has been given a $66.00 price target by research analysts at Deutsche Bank in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank’s price target would suggest a potential upside of 4.07% from the stock’s current price.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research restated a “sell” rating on shares of Kellogg in a research note on Tuesday. BMO Capital Markets upped their target price on shares of Kellogg to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday. Royal Bank of Canada dropped their target price on shares of Kellogg to $72.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. JPMorgan Chase & Co. downgraded shares of Kellogg from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $73.00 to $66.00 in a research note on Wednesday. Finally, ValuEngine upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $71.00.
Kellogg stock opened at $63.42 on Wednesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.52 and a current ratio of 0.84. Kellogg has a 1-year low of $56.40 and a 1-year high of $74.98. The stock has a market capitalization of $22.31 billion, a P/E ratio of 15.70, a PEG ratio of 2.12 and a beta of 0.50.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $69.72, for a total value of $14,292,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in K. Brown Advisory Inc. raised its holdings in shares of Kellogg by 81.1% in the second quarter. Brown Advisory Inc. now owns 163,119 shares of the company’s stock worth $11,398,000 after buying an additional 73,044 shares during the last quarter. Manning & Napier Group LLC raised its holdings in shares of Kellogg by 11.5% in the third quarter. Manning & Napier Group LLC now owns 67,873 shares of the company’s stock worth $4,752,000 after buying an additional 7,005 shares during the last quarter. Andra AP fonden purchased a new position in shares of Kellogg in the second quarter worth $8,049,000. AMP Capital Investors Ltd raised its holdings in shares of Kellogg by 12.9% in the second quarter. AMP Capital Investors Ltd now owns 142,251 shares of the company’s stock worth $9,937,000 after buying an additional 16,251 shares during the last quarter. Finally, ELM Advisors LLC purchased a new position in shares of Kellogg in the third quarter worth $172,000. Institutional investors own 88.59% of the company’s stock.
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. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.
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