Credit Suisse Group Analysts Give Kellogg (K) a $54.00 Price Target

Credit Suisse Group set a $54.00 target price on Kellogg (NYSE:K) in a report issued on Saturday morning. The brokerage currently has a hold rating on the stock.

A number of other research analysts also recently weighed in on K. Piper Jaffray Companies set a $79.00 target price on Kellogg and gave the company a buy rating in a report on Tuesday, October 16th. Zacks Investment Research downgraded Kellogg from a hold rating to a sell rating in a research note on Tuesday, October 16th. ValuEngine raised Kellogg from a hold rating to a buy rating in a research note on Wednesday, October 24th. Buckingham Research decreased their price objective on Kellogg from $80.00 to $77.00 and set a buy rating on the stock in a research note on Thursday, November 1st. Finally, Deutsche Bank decreased their price objective on Kellogg from $73.00 to $70.00 and set a hold rating on the stock in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $64.92.

Shares of NYSE:K opened at $55.67 on Friday. The firm has a market cap of $19.21 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.21 and a beta of 0.58. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.40 and a current ratio of 0.70. Kellogg has a 1 year low of $54.14 and a 1 year high of $74.98.

Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, February 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts predict that Kellogg will post 4.06 earnings per share for the current fiscal year.

In related news, CFO Fareed A. Khan acquired 8,190 shares of the stock in a transaction dated Tuesday, November 20th. The stock was acquired at an average cost of $62.14 per share, with a total value of $508,926.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $54.76, for a total value of $5,476,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 680,000 shares of company stock valued at $40,102,200 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Kellogg by 9.0% during the 4th quarter. BlackRock Inc. now owns 26,334,804 shares of the company’s stock worth $1,501,346,000 after acquiring an additional 2,171,811 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Kellogg by 3.4% during the 3rd quarter. Vanguard Group Inc now owns 21,245,966 shares of the company’s stock worth $1,487,643,000 after acquiring an additional 696,685 shares during the last quarter. Capital World Investors lifted its stake in shares of Kellogg by 3.0% during the 3rd quarter. Capital World Investors now owns 9,739,000 shares of the company’s stock worth $681,925,000 after acquiring an additional 280,000 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Kellogg by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock worth $372,017,000 after acquiring an additional 1,076,748 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Kellogg by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 4,380,796 shares of the company’s stock worth $306,745,000 after acquiring an additional 50,416 shares during the last quarter. 87.01% of the stock is owned by institutional investors and hedge funds.

About Kellogg

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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