Kellogg Company (NYSE:K) had its target price lowered by UBS Group AG (USA) from $72.00 to $67.00 in a research note released on Wednesday morning, www.benzinga.com reports. The brokerage currently has a neutral rating on the stock.
Several other equities research analysts also recently weighed in on K. Morgan Stanley reissued an equal weight rating and issued a $69.00 price target (down previously from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Royal Bank Of Canada decreased their target price on Kellogg from $81.00 to $79.00 and set a sector perform rating for the company in a report on Tuesday, August 1st. BMO Capital Markets reaffirmed a hold rating and set a $85.00 target price on shares of Kellogg in a report on Friday, August 4th. Susquehanna Bancshares Inc reaffirmed a hold rating on shares of Kellogg in a report on Thursday, August 3rd. Finally, J P Morgan Chase & Co raised Kellogg from a neutral rating to an overweight rating and lifted their target price for the stock from $76.00 to $78.00 in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $71.00.
Kellogg (NYSE K) opened at $61.96 on Wednesday. The stock has a market capitalization of $21.85 billion, a PE ratio of 15.60, a PEG ratio of 2.52 and a beta of 0.49. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.42 and a current ratio of 0.68.
Kellogg (NYSE:K) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. equities research analysts anticipate that Kellogg will post 4.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.49%. The ex-dividend date is Thursday, November 30th. Kellogg’s dividend payout ratio is currently 96.43%.
A number of hedge funds have recently made changes to their positions in the stock. HL Financial Services LLC raised its position in Kellogg by 4.2% during the third quarter. HL Financial Services LLC now owns 28,278 shares of the company’s stock valued at $1,764,000 after acquiring an additional 1,147 shares in the last quarter. Global X MANAGEMENT CO LLC raised its position in Kellogg by 16.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 8,535 shares of the company’s stock valued at $532,000 after acquiring an additional 1,192 shares in the last quarter. Swiss National Bank raised its position in Kellogg by 0.7% during the third quarter. Swiss National Bank now owns 1,568,489 shares of the company’s stock valued at $97,827,000 after acquiring an additional 10,200 shares in the last quarter. IndexIQ Advisors LLC raised its position in Kellogg by 413.0% during the third quarter. IndexIQ Advisors LLC now owns 41,473 shares of the company’s stock valued at $2,587,000 after acquiring an additional 33,388 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Kellogg by 36.7% during the third quarter. American Century Companies Inc. now owns 3,056,142 shares of the company’s stock valued at $190,612,000 after acquiring an additional 820,277 shares in the last quarter. Institutional investors own 85.16% 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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