Kellogg’s (K) PT Set at $63.00 by Credit Suisse Group
Kellogg’s (NYSE:K) has been given a $63.00 price objective by stock analysts at Credit Suisse Group in a note issued to investors on Monday. The firm presently has a “hold” rating on the stock. Credit Suisse Group’s target price indicates a potential downside of 0.10% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Kellogg’s from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Thursday, April 5th. Barclays reaffirmed a “sell” rating and set a $69.00 price target on shares of Kellogg’s in a research note on Sunday, February 11th. Bank of America upped their price target on shares of Kellogg’s from $66.00 to $69.00 and gave the company an “underperform” rating in a research note on Friday, February 9th. Citigroup decreased their price target on shares of Kellogg’s from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. Finally, Pivotal Research started coverage on shares of Kellogg’s in a research note on Monday, February 5th. They set a “buy” rating and a $80.00 price target on the stock. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $73.12.
Shares of K stock remained flat at $$63.06 during mid-day trading on Monday. 159,633 shares of the stock traded hands, compared to its average volume of 2,926,273. Kellogg’s has a 1 year low of $58.76 and a 1 year high of $74.28. The company has a debt-to-equity ratio of 3.52, a current ratio of 0.68 and a quick ratio of 0.41. The stock has a market capitalization of $21,802.91, a P/E ratio of 15.59, a PEG ratio of 1.94 and a beta of 0.45.
In other Kellogg’s news, Vice Chairman Gary H. Pilnick sold 4,400 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $67.55, for a total transaction of $297,220.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 50,254 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $68.35, for a total transaction of $3,434,860.90. The disclosure for this sale can be found here. Insiders have sold 623,763 shares of company stock worth $42,787,777 in the last quarter. Company insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sun Life Financial INC grew its holdings in shares of Kellogg’s by 73.4% in the fourth quarter. Sun Life Financial INC now owns 23,795 shares of the company’s stock worth $1,617,000 after purchasing an additional 10,069 shares during the last quarter. Koch Industries Inc. lifted its stake in Kellogg’s by 125.3% in the fourth quarter. Koch Industries Inc. now owns 13,200 shares of the company’s stock worth $897,000 after acquiring an additional 7,342 shares during the period. Paloma Partners Management Co lifted its stake in Kellogg’s by 16.9% in the fourth quarter. Paloma Partners Management Co now owns 30,970 shares of the company’s stock worth $2,106,000 after acquiring an additional 4,473 shares during the period. Flippin Bruce & Porter Inc. purchased a new stake in Kellogg’s in the fourth quarter worth about $3,647,000. Finally, Bbva Compass Bancshares Inc. lifted its stake in Kellogg’s by 21.9% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 6,305 shares of the company’s stock worth $429,000 after acquiring an additional 1,134 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.
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Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.
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