Kellogg (NYSE:K) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a research note issued to investors on Monday, TheStreetRatingsTable reports.
A number of other brokerages have also weighed in on K. Barclays set a $62.00 price target on Kellogg and gave the stock a “sell” rating in a research note on Friday, August 2nd. Guggenheim boosted their price target on Kellogg from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Canaccord Genuity reaffirmed an “average” rating on shares of Kellogg in a report on Tuesday, June 25th. ValuEngine upgraded Kellogg from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price target for the company. in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. Kellogg currently has an average rating of “Hold” and a consensus price target of $63.47.
K opened at $62.70 on Monday. The company has a 50-day moving average of $57.58. Kellogg has a 1 year low of $51.34 and a 1 year high of $74.98. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.70 and a quick ratio of 0.46. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 3.55 and a beta of 0.61.
Kellogg (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts predict that Kellogg will post 3.89 earnings per share for the current fiscal year.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $54.84, for a total value of $5,484,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 600,000 shares of company stock worth $33,914,000 in the last ninety days. 0.09% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in Kellogg by 12.7% during the second quarter. Renaissance Technologies LLC now owns 5,523,983 shares of the company’s stock worth $295,920,000 after buying an additional 623,700 shares in the last quarter. Beutel Goodman & Co Ltd. raised its stake in Kellogg by 13.5% during the first quarter. Beutel Goodman & Co Ltd. now owns 3,894,578 shares of the company’s stock valued at $167,224,000 after buying an additional 462,398 shares in the last quarter. Geode Capital Management LLC raised its stake in Kellogg by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 3,517,033 shares of the company’s stock valued at $200,178,000 after buying an additional 364,719 shares in the last quarter. Northern Trust Corp raised its stake in Kellogg by 1.3% during the first quarter. Northern Trust Corp now owns 3,460,612 shares of the company’s stock valued at $198,570,000 after buying an additional 45,977 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in shares of Kellogg by 37.1% during the first quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock valued at $163,488,000 after purchasing an additional 771,375 shares during the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.
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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