Kellogg (NYSE:K) Receives $67.00 Average Target Price from Analysts

Shares of Kellogg (NYSE:K) have been given an average recommendation of “Hold” by the twelve ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $66.78.

Several equities research analysts have commented on the stock. Credit Suisse Group lowered their price target on shares of Kellogg from $62.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, August 30th. National Bank Financial downgraded shares of Kellogg to a “sector perform” rating in a research report on Tuesday, June 22nd. Morgan Stanley began coverage on shares of Kellogg in a report on Tuesday. They issued a “hold” rating and a $64.00 price objective for the company. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Kellogg in a research note on Thursday, August 5th.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $63.43, for a total value of $5,285,875.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $62.61, for a total transaction of $5,217,479.13. The disclosure for this sale can be found here. Insiders sold 499,997 shares of company stock valued at $32,074,806 over the last 90 days. Insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of K. Factorial Partners LLC boosted its stake in Kellogg by 6,664.9% during the first quarter. Factorial Partners LLC now owns 2,658,600 shares of the company’s stock worth $42,000,000 after buying an additional 2,619,300 shares in the last quarter. Morgan Stanley grew its position in shares of Kellogg by 153.8% during the 2nd quarter. Morgan Stanley now owns 4,225,332 shares of the company’s stock worth $271,815,000 after buying an additional 2,560,788 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Kellogg by 66.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,420,279 shares of the company’s stock worth $216,504,000 after buying an additional 1,369,552 shares during the period. BlackRock Inc. grew its position in shares of Kellogg by 5.9% during the 1st quarter. BlackRock Inc. now owns 24,415,240 shares of the company’s stock worth $1,545,486,000 after buying an additional 1,359,123 shares during the period. Finally, Amundi acquired a new position in shares of Kellogg in the 2nd quarter valued at approximately $65,844,000. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

K traded down $0.59 on Thursday, hitting $62.80. The company had a trading volume of 21,635 shares, compared to its average volume of 2,740,557. Kellogg has a 12-month low of $56.61 and a 12-month high of $68.60. The business’s fifty day simple moving average is $63.81 and its 200 day simple moving average is $63.88. The company has a market cap of $21.41 billion, a PE ratio of 16.61, a PEG ratio of 3.52 and a beta of 0.65. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.81.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.11. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.43 billion. Kellogg had a return on equity of 37.51% and a net margin of 9.27%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. On average, analysts anticipate that Kellogg will post 4.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were paid a dividend of $0.58 per share. The ex-dividend date was Tuesday, August 31st. This represents a $2.32 annualized dividend and a yield of 3.69%. Kellogg’s dividend payout ratio is currently 58.15%.

Kellogg Company Profile

Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).

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Analyst Recommendations for Kellogg (NYSE:K)

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