Kellogg (NYSE:K – Get Free Report) has been given an average rating of “Reduce” by the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $70.42.
A number of research analysts have recently weighed in on the company. TheStreet raised Kellogg from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. The Goldman Sachs Group upgraded shares of Kellogg from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $83.00 in a research report on Tuesday, June 27th. JPMorgan Chase & Co. decreased their price objective on shares of Kellogg from $73.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, August 10th. UBS Group raised their price objective on shares of Kellogg from $73.00 to $74.00 in a research report on Friday, May 5th. Finally, StockNews.com began coverage on Kellogg in a research report on Thursday. They set a “hold” rating for the company.
Insider Buying and Selling
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $63.78, for a total value of $6,378,000.00. Following the completion of the transaction, the insider now owns 54,431,838 shares in the company, valued at $3,471,662,627.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 600,000 shares of company stock worth $39,827,000. Corporate insiders own 1.40% of the company’s stock.
Hedge Funds Weigh In On Kellogg
Several hedge funds have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Kellogg by 42,578.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,311,851 shares of the company’s stock worth $223,219,000 after buying an additional 3,304,091 shares during the period. Norges Bank bought a new position in Kellogg in the 4th quarter valued at $131,663,000. Envestnet Asset Management Inc. increased its stake in Kellogg by 1,603.9% in the first quarter. Envestnet Asset Management Inc. now owns 1,791,535 shares of the company’s stock worth $8,962,000 after purchasing an additional 1,686,391 shares during the period. Van ECK Associates Corp lifted its position in shares of Kellogg by 122.1% during the first quarter. Van ECK Associates Corp now owns 2,981,036 shares of the company’s stock worth $199,610,000 after purchasing an additional 1,638,764 shares during the last quarter. Finally, Southeastern Asset Management Inc. TN bought a new stake in shares of Kellogg during the first quarter worth $87,611,000. 83.22% of the stock is currently owned by institutional investors.
Kellogg Trading Down 1.7 %
Shares of K stock opened at $62.06 on Thursday. Kellogg has a 1 year low of $61.97 and a 1 year high of $77.17. The firm has a fifty day moving average price of $66.39 and a 200-day moving average price of $67.14. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.40. The company has a market cap of $21.25 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 4.28 and a beta of 0.41.
Kellogg (NYSE:K – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.14. Kellogg had a net margin of 5.46% and a return on equity of 33.33%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.05 billion. As a group, equities analysts predict that Kellogg will post 4.14 earnings per share for the current year.
Kellogg Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.60 dividend. The ex-dividend date is Thursday, August 31st. This represents a $2.40 annualized dividend and a yield of 3.87%. This is a positive change from Kellogg’s previous quarterly dividend of $0.59. Kellogg’s dividend payout ratio (DPR) is currently 94.40%.
Kellogg Company Profile
Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.