Kellogg (NYSE:K) Price Target Raised to $69.00

Kellogg (NYSE:KGet Rating) had its target price lifted by analysts at Credit Suisse Group from $62.00 to $69.00 in a report released on Monday, The Fly reports. Credit Suisse Group’s target price would indicate a potential downside of 5.13% from the company’s current price.

A number of other brokerages also recently issued reports on K. Citigroup upped their price target on Kellogg from $74.00 to $83.00 in a research report on Friday. 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 report on Monday, April 25th. BMO Capital Markets lowered shares of Kellogg from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $75.00 to $70.00 in a report on Monday, January 31st. Piper Sandler lowered shares of Kellogg from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $66.00 to $62.00 in a report on Tuesday, May 3rd. Finally, StockNews.com started coverage on shares of Kellogg in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.91.

Shares of K stock opened at $72.73 on Monday. The business’s fifty day simple moving average is $65.36 and its 200-day simple moving average is $64.40. The company has a market cap of $24.74 billion, a PE ratio of 16.20, a PEG ratio of 4.76 and a beta of 0.48. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.39. Kellogg has a 12-month low of $59.54 and a 12-month high of $73.30.

Kellogg (NYSE:KGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.59 billion. Kellogg had a return on equity of 34.82% and a net margin of 10.81%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 earnings per share. On average, equities analysts forecast that Kellogg will post 4.05 earnings per share for the current year.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 146,163 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $66.08, for a total transaction of $9,658,451.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $61.02, for a total transaction of $8,918,256.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 768,789 shares of company stock worth $49,981,102. 1.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC raised its holdings in Kellogg by 6.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,490 shares of the company’s stock valued at $161,000 after acquiring an additional 149 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Kellogg by 0.3% in the 1st quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock valued at $170,000 after acquiring an additional 159 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Kellogg by 1.9% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,207 shares of the company’s stock valued at $594,000 after acquiring an additional 169 shares during the last quarter. Financial Counselors Inc. raised its holdings in Kellogg by 4.4% in the 4th quarter. Financial Counselors Inc. now owns 4,123 shares of the company’s stock valued at $266,000 after acquiring an additional 174 shares during the last quarter. Finally, SPC Financial Inc. raised its holdings in Kellogg by 2.1% in the 1st quarter. SPC Financial Inc. now owns 8,607 shares of the company’s stock valued at $555,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

About Kellogg (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.

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