Credit Suisse Group AG reiterated their outperform rating on shares of Kellogg Co. (NYSE:K) in a research report released on Tuesday. Credit Suisse Group AG currently has a $94.00 price target on the stock.
K has been the subject of several other research reports. Citigroup Inc. lowered their price target on Kellogg from $100.00 to $90.00 and set a buy rating for the company in a research report on Friday, August 5th. Deutsche Bank AG lifted their price target on Kellogg from $74.00 to $78.00 and gave the stock a hold rating in a research report on Friday, July 29th. JPMorgan Chase & Co. lifted their price target on Kellogg from $73.00 to $87.00 and gave the stock a neutral rating in a research report on Friday, August 5th. Royal Bank Of Canada lifted their price target on Kellogg from $82.00 to $86.00 and gave the stock a sector perform rating in a research report on Friday, August 5th. Finally, Morgan Stanley reaffirmed a hold rating and issued a $79.00 price target on shares of Kellogg in a research report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $81.65.
Kellogg (NYSE:K) opened at 77.47 on Tuesday. The stock has a 50 day moving average of $80.31 and a 200-day moving average of $78.68. The company has a market capitalization of $27.13 billion, a price-to-earnings ratio of 44.32 and a beta of 0.47. Kellogg has a 52-week low of $64.65 and a 52-week high of $87.16.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.91. The firm earned $3.27 billion during the quarter, compared to analyst estimates of $3.37 billion. Kellogg had a return on equity of 56.33% and a net margin of 4.71%. Kellogg’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, equities research analysts anticipate that Kellogg will post $0.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.08 annualized dividend and a dividend yield of 2.68%. This is a positive change from Kellogg’s previous quarterly dividend of $0.50. Kellogg’s dividend payout ratio is presently 119.54%.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $82.44, for a total transaction of $10,717,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald L. Dissinger sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $83.71, for a total value of $502,260.00. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in K. Investors Capital Advisory Services increased its position in shares of Kellogg by 0.5% in the second quarter. Investors Capital Advisory Services now owns 3,068 shares of the company’s stock worth $250,000 after buying an additional 16 shares during the period. Northeast Investment Management increased its position in shares of Kellogg by 0.7% in the second quarter. Northeast Investment Management now owns 3,769 shares of the company’s stock worth $308,000 after buying an additional 27 shares during the period. Trust Co. of Toledo NA OH increased its position in shares of Kellogg by 0.5% in the second quarter. Trust Co. of Toledo NA OH now owns 5,869 shares of the company’s stock worth $479,000 after buying an additional 28 shares during the period. WASHINGTON TRUST Co increased its position in shares of Kellogg by 1.8% in the second quarter. WASHINGTON TRUST Co now owns 2,904 shares of the company’s stock worth $237,000 after buying an additional 50 shares during the period. Finally, Canandaigua National Bank & Trust Co. increased its position in shares of Kellogg by 0.8% in the first quarter. Canandaigua National Bank & Trust Co. now owns 10,556 shares of the company’s stock worth $808,000 after buying an additional 81 shares during the period. Institutional investors own 81.75% of the company’s stock.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
Receive News & Ratings for Kellogg Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Co. and related companies with MarketBeat.com's FREE daily email newsletter.