Kellogg Company (K) Rating Reiterated by Deutsche Bank AG
Deutsche Bank AG reiterated their hold rating on shares of Kellogg Company (NYSE:K) in a research note released on Wednesday morning. The firm currently has a $74.00 price objective on the stock, up from their prior price objective of $71.00.
A number of other analysts also recently weighed in on the stock. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the stock a buy rating in a report on Monday, August 7th. Royal Bank Of Canada boosted their target price on shares of Kellogg from $79.00 to $81.00 and gave the stock a sector perform rating in a report on Monday, August 7th. BMO Capital Markets reduced their target price on shares of Kellogg from $85.00 to $78.00 and set a market perform rating on the stock in a report on Friday, August 4th. Zacks Investment Research downgraded shares of Kellogg from a buy rating to a hold rating in a report on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded shares of Kellogg from a neutral rating to an overweight rating and boosted their target price for the stock from $76.00 to $78.00 in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Kellogg presently has a consensus rating of Hold and a consensus price target of $74.50.
Kellogg (NYSE K) traded up 0.09% during mid-day trading on Wednesday, reaching $68.81. 1,054,904 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $67.90 and its 200 day moving average price is $71.54. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 31.15 and a beta of 0.50. Kellogg has a one year low of $65.32 and a one year high of $83.83.
Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $0.91 EPS. Kellogg’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Kellogg will post $3.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.14%. Kellogg’s payout ratio is currently 94.12%.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total transaction of $1,852,000.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in K. City Holding Co. boosted its stake in Kellogg by 9.2% in the first quarter. City Holding Co. now owns 31,034 shares of the company’s stock valued at $2,253,000 after buying an additional 2,625 shares during the period. Ledyard National Bank boosted its stake in Kellogg by 10.4% in the first quarter. Ledyard National Bank now owns 5,040 shares of the company’s stock valued at $366,000 after buying an additional 475 shares during the period. Nisa Investment Advisors LLC boosted its stake in Kellogg by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 79,572 shares of the company’s stock valued at $5,778,000 after buying an additional 4,945 shares during the period. DnB Asset Management AS boosted its stake in Kellogg by 8.3% in the first quarter. DnB Asset Management AS now owns 101,680 shares of the company’s stock valued at $7,383,000 after buying an additional 7,800 shares during the period. Finally, Somerset Trust Co boosted its stake in Kellogg by 1.9% in the first quarter. Somerset Trust Co now owns 15,590 shares of the company’s stock valued at $1,132,000 after buying an additional 295 shares during the period. 83.53% of the stock is owned by institutional investors.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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