Kellogg (NYSE:K) Given Consensus Recommendation of “Hold” by Analysts

Kellogg (NYSE:KGet Rating) has been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $67.33.

Several equities analysts have recently weighed in on K shares. Morgan Stanley dropped their price objective on shares of Kellogg from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 13th. StockNews.com started coverage on shares of Kellogg in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Kellogg from a “buy” rating to a “hold” rating and dropped their price objective for the company from $74.00 to $73.00 in a research report on Monday. BMO Capital Markets lowered shares of Kellogg from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $75.00 to $70.00 in a research report on Monday, January 31st. Finally, UBS Group initiated coverage on shares of Kellogg in a research report on Wednesday, March 30th. They set a “buy” rating and a $73.00 price target on the stock.

Shares of K opened at $69.55 on Friday. Kellogg has a 12 month low of $59.54 and a 12 month high of $70.21. The firm has a fifty day simple moving average of $64.93 and a 200 day simple moving average of $64.07. The stock has a market capitalization of $23.66 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 4.53 and a beta of 0.56. The company has a current ratio of 0.64, a quick ratio of 0.38 and a debt-to-equity ratio of 1.49.

Kellogg (NYSE:KGet Rating) last announced its quarterly earnings results on Thursday, February 10th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Kellogg had a net margin of 10.49% and a return on equity of 36.15%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. As a group, research analysts predict that Kellogg will post 4.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were paid a $0.58 dividend. The ex-dividend date was Monday, February 28th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.34%. Kellogg’s payout ratio is currently 53.58%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $61.26, for a total transaction of $8,953,332.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,163 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $66.08, for a total transaction of $9,658,451.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 768,789 shares of company stock worth $49,981,102. 1.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in shares of Kellogg by 108.9% in the 1st quarter. Allworth Financial LP now owns 397 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Kellogg in the 4th quarter valued at $26,000. Heritage Wealth Advisors bought a new stake in shares of Kellogg in the 4th quarter valued at $26,000. Bell Investment Advisors Inc bought a new stake in shares of Kellogg in the 3rd quarter valued at $29,000. Finally, AHL Investment Management Inc. bought a new stake in shares of Kellogg in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 83.69% of the company’s stock.

Kellogg Company Profile (Get Rating)

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.

Further Reading

Analyst Recommendations for Kellogg (NYSE:K)

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