Kellogg Company (NYSE:K) had its price target raised by analysts at Royal Bank Of Canada from $79.00 to $81.00 in a research note issued on Monday, August 7th. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 15.80% from the company’s previous close.
Other equities analysts have also issued reports about the company. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $80.00 price objective (down from $82.00) on shares of Kellogg in a research note on Tuesday, April 25th. UBS AG dropped their target price on Kellogg from $81.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Credit Suisse Group dropped their target price on Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. TheStreet upgraded Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Finally, Zacks Investment Research downgraded Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Kellogg presently has a consensus rating of “Hold” and a consensus price target of $74.50.
Shares of Kellogg (NYSE:K) traded down 0.21% on Monday, hitting $69.95. 1,975,934 shares of the stock traded hands. Kellogg has a 52-week low of $65.32 and a 52-week high of $83.65. The stock’s 50 day moving average price is $67.92 and its 200 day moving average price is $71.45. The stock has a market cap of $24.14 billion, a P/E ratio of 31.67 and a beta of 0.50.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $0.91 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that Kellogg will post $3.98 EPS for the current fiscal year.
In other news, Director John T. Dillon sold 4,900 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in K. Toronto Dominion Bank raised its stake in shares of Kellogg by 18.7% in the second quarter. Toronto Dominion Bank now owns 128,503 shares of the company’s stock worth $8,929,000 after buying an additional 20,248 shares during the period. Cetera Investment Advisers bought a new stake in shares of Kellogg during the second quarter worth about $231,000. Advisory Services Network LLC raised its stake in shares of Kellogg by 10.5% in the second quarter. Advisory Services Network LLC now owns 4,689 shares of the company’s stock worth $326,000 after buying an additional 445 shares during the period. Beaton Management Co. Inc. bought a new stake in shares of Kellogg during the second quarter worth about $321,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Kellogg during the second quarter worth about $350,000. Institutional investors and hedge funds own 83.05% of the company’s stock.
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.
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