Analysts Set Kellogg (K) Target Price at $70.18

Kellogg (NYSE:K) has been given an average recommendation of “Hold” by the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $70.18.

A number of research firms have recently weighed in on K. Wells Fargo & Co reissued a “hold” rating and set a $67.00 target price (up previously from $62.00) on shares of Kellogg in a report on Sunday, August 5th. Credit Suisse Group lifted their target price on Kellogg from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, August 9th. Buckingham Research lifted their target price on Kellogg from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research downgraded Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, Argus decreased their price target on Kellogg from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. They noted that the move was a valuation call.

In other Kellogg news, CFO Fareed A. Khan bought 8,190 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were purchased at an average price of $62.14 per share, for a total transaction of $508,926.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 215,000 shares of Kellogg stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $74.61, for a total value of $16,041,150.00. The disclosure for this sale can be found here. Insiders sold 600,000 shares of company stock worth $41,536,950 in the last 90 days. 1.40% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC bought a new position in Kellogg in the third quarter valued at about $1,066,000. Clearbridge Investments LLC grew its position in Kellogg by 4.3% in the third quarter. Clearbridge Investments LLC now owns 38,231 shares of the company’s stock valued at $2,677,000 after acquiring an additional 1,560 shares during the last quarter. Carnegie Capital Asset Management LLC grew its position in Kellogg by 114.2% in the third quarter. Carnegie Capital Asset Management LLC now owns 12,097 shares of the company’s stock valued at $749,000 after acquiring an additional 6,450 shares during the last quarter. Belpointe Asset Management LLC bought a new position in Kellogg in the third quarter valued at about $573,000. Finally, Vanguard Group Inc. grew its position in Kellogg by 3.4% in the third quarter. Vanguard Group Inc. now owns 21,245,966 shares of the company’s stock valued at $1,487,643,000 after acquiring an additional 696,685 shares during the last quarter. Hedge funds and other institutional investors own 86.92% of the company’s stock.

Kellogg stock traded up $0.95 during mid-day trading on Monday, hitting $63.65. 3,138,270 shares of the company’s stock traded hands, compared to its average volume of 3,170,331. Kellogg has a fifty-two week low of $56.40 and a fifty-two week high of $74.98. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 2.38 and a beta of 0.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.84 and a quick ratio of 0.52.

Kellogg (NYSE:K) last posted its earnings results on Wednesday, October 31st. The company reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.07 by ($0.01). Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Kellogg will post 4.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, November 30th. Kellogg’s payout ratio is currently 55.45%.

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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Analyst Recommendations for Kellogg (NYSE:K)

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