Kellogg (NYSE:K) Given Consensus Rating of “Hold” by Brokerages

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Kellogg (NYSE:K) has received an average rating of “Hold” from the twenty ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $62.05.

K has been the subject of a number of recent analyst reports. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Morgan Stanley set a $56.00 target price on Kellogg and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Consumer Edge cut Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 target price for the company. in a research report on Monday, June 24th. Canaccord Genuity reaffirmed an “average” rating on shares of Kellogg in a research report on Tuesday, June 25th. Finally, Piper Jaffray Companies set a $16.00 target price on WPX Energy and gave the stock a “buy” rating in a research report on Friday, April 5th.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $57.81, for a total value of $5,781,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 600,000 shares of company stock valued at $33,769,000 over the last three months. 0.09% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Murphy Pohlad Asset Management LLC acquired a new position in Kellogg during the fourth quarter worth $28,000. ERTS Wealth Advisors LLC acquired a new position in Kellogg during the fourth quarter worth $34,000. Capital Financial Planning LLC acquired a new position in Kellogg during the fourth quarter worth $34,000. JOYN Advisors Inc. raised its stake in Kellogg by 38.9% during the fourth quarter. JOYN Advisors Inc. now owns 660 shares of the company’s stock worth $38,000 after acquiring an additional 185 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Kellogg during the first quarter worth $40,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Kellogg stock traded down $0.05 during trading hours on Tuesday, reaching $54.55. 1,401,217 shares of the company were exchanged, compared to its average volume of 2,513,541. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 3.14 and a beta of 0.63. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 2.75. The firm has a 50-day moving average price of $55.06. Kellogg has a 12 month low of $51.34 and a 12 month high of $74.98.

Kellogg (NYSE:K) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Equities research analysts forecast that Kellogg will post 3.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a $0.56 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.24 annualized dividend and a dividend yield of 4.11%. Kellogg’s dividend payout ratio is 51.73%.

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. 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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Analyst Recommendations for Kellogg (NYSE:K)

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