Kellogg (NYSE:K – Get Rating) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $72.27.
Several equity research analysts have issued reports on K shares. Credit Suisse Group dropped their target price on shares of Kellogg from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. JPMorgan Chase & Co. upgraded shares of Kellogg from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $72.00 in a report on Friday, May 5th. UBS Group boosted their price objective on shares of Kellogg from $73.00 to $74.00 in a report on Friday, May 5th. Barclays boosted their price objective on shares of Kellogg from $72.00 to $74.00 in a report on Monday, May 8th. Finally, StockNews.com assumed coverage on shares of Kellogg in a report on Thursday, May 18th. They issued a “buy” rating for the company.
Kellogg Trading Up 2.1 %
Shares of Kellogg stock opened at $67.39 on Friday. Kellogg has a 1 year low of $63.74 and a 1 year high of $77.17. The firm has a market cap of $23.10 billion, a PE ratio of 27.85, a PEG ratio of 3.87 and a beta of 0.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.72 and a quick ratio of 0.42. The company has a 50 day simple moving average of $68.43 and a two hundred day simple moving average of $68.93.
Kellogg (NYSE:K – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Kellogg had a net margin of 5.33% and a return on equity of 32.09%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the business posted $1.10 earnings per share. Kellogg’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that Kellogg will post 4.11 earnings per share for the current fiscal year.
Kellogg Announces Dividends
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Wednesday, May 31st. Kellogg’s payout ratio is currently 97.52%.
Insider Transactions at Kellogg
In other news, major shareholder Kellogg WK Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $68.49, for a total value of $6,849,000.00. Following the sale, the insider now directly owns 54,931,838 shares of the company’s stock, valued at approximately $3,762,281,584.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. In related news, SVP Kris Bahner sold 3,483 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $71.01, for a total value of $247,327.83. Following the transaction, the senior vice president now owns 18,013 shares in the company, valued at approximately $1,279,103.13. The sale was disclosed in a document filed with the SEC, which is accessible via the SEC website. Also, major shareholder Kellogg WK Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $68.49, for a total transaction of $6,849,000.00. Following the completion of the transaction, the insider now owns 54,931,838 shares in the company, valued at approximately $3,762,281,584.62. The disclosure for this sale can be found here. Insiders have sold 603,483 shares of company stock valued at $40,556,328 in the last three months. 1.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Kellogg
Several hedge funds and other institutional investors have recently bought and sold shares of K. BlackRock Inc. lifted its stake in shares of Kellogg by 1.2% in the 1st quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock worth $2,122,486,000 after purchasing an additional 369,648 shares during the period. Vanguard Group Inc. increased its holdings in Kellogg by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 30,276,057 shares of the company’s stock worth $2,109,031,000 after acquiring an additional 583,666 shares in the last quarter. State Street Corp increased its holdings in Kellogg by 2.6% in the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after acquiring an additional 369,620 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kellogg by 2.9% in the 1st quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company’s stock worth $378,150,000 after acquiring an additional 159,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Kellogg by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,396,277 shares of the company’s stock worth $384,431,000 after acquiring an additional 552,179 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.
Kellogg Co. engages in the manufacturing, marketing, and distribution of ready-to-eat cereals and convenience foods. It operates through the following segments: North America, Europe, Latin America, and Asia Middle East Africa. The North America segment includes the US businesses and Canada. The Europe segment consists of European countries.
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