Recent Investment Analysts’ Ratings Updates for Kellogg (K)

A number of research firms have changed their ratings and price targets for Kellogg (NYSE: K):

  • 8/12/2019 – Kellogg was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 8/6/2019 – Kellogg had its price target raised by analysts at Buckingham Research from $67.00 to $71.00. They now have a “buy” rating on the stock.
  • 8/2/2019 – Kellogg was given a new $62.00 price target on by analysts at Barclays PLC. They now have a “sell” rating on the stock.
  • 8/2/2019 – Kellogg was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. They now have a $67.00 price target on the stock. According to Zacks, “Kellogg’s shares have outperformed the industry in the past three months. The company has been gaining from an impressive top-line performance. In the second quarter of 2019, revenues advanced 3% year over year, driven mainly by consolidation of Multipro. Broad-based organic growth, gains from innovation and expansion in the emerging markets also fueled performance. Organic growth witnessed in the quarter, indicates that the deploy for growth strategy is yielding well. However, Kellogg is struggling with rising input costs, which weighed on the bottom line during the second quarter. Persistent impacts from adverse currency rates are also a concern. Moreover, management’s bottom-line view for 2019 is unimpressive, thanks to divestitures. Nevertheless, these divestitures are likely to boost efficiency and business agility in the long run.”
  • 8/2/2019 – Kellogg had its price target raised by analysts at Guggenheim from $55.00 to $65.00. They now have a “neutral” rating on the stock.
  • 8/2/2019 – Kellogg had its price target raised by analysts at Morgan Stanley from $56.00 to $65.00. They now have an “equal weight” rating on the stock.
  • 8/1/2019 – Kellogg was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/11/2019 – Kellogg had its “buy” rating reaffirmed by analysts at GMP Securities.
  • 6/25/2019 – Kellogg had its “average” rating reaffirmed by analysts at Canaccord Genuity.
  • 6/24/2019 – Kellogg was downgraded by analysts at Consumer Edge from an “equal weight” rating to an “underweight” rating. They now have a $49.00 price target on the stock.

K traded up $0.07 on Thursday, hitting $63.42. 4,766 shares of the company’s stock were exchanged, compared to its average volume of 3,187,858. The firm has a market cap of $21.94 billion, a PE ratio of 14.65, a P/E/G ratio of 3.69 and a beta of 0.61. Kellogg has a twelve month low of $51.34 and a twelve month high of $74.98. The stock has a fifty day moving average of $59.16 and a two-hundred day moving average of $57.08. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 2.67.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.41 billion. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. Kellogg’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, analysts predict that Kellogg will post 3.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This is a positive change from Kellogg’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.28 annualized dividend and a yield of 3.60%. Kellogg’s dividend payout ratio is 51.73%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $54.95, for a total value of $5,495,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 600,000 shares of company stock worth $34,578,000. 0.09% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of K. Coastal Investment Advisors Inc. boosted its holdings in shares of Kellogg by 117.4% in the second quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock valued at $30,000 after acquiring an additional 304 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Kellogg during the first quarter worth approximately $40,000. AGF Investments LLC boosted its holdings in Kellogg by 39.4% during the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock worth $44,000 after buying an additional 234 shares in the last quarter. Acima Private Wealth LLC boosted its holdings in Kellogg by 90.6% during the first quarter. Acima Private Wealth LLC now owns 852 shares of the company’s stock worth $49,000 after buying an additional 405 shares in the last quarter. Finally, WealthStone Inc. bought a new stake in Kellogg during the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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