Kellogg (NYSE:K) had its price objective hoisted by Credit Suisse Group from $76.00 to $77.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 11.61% from the company’s previous close.

Several other research analysts also recently weighed in on K. Royal Bank of Canada restated a “hold” rating and set a $69.00 target price on shares of Kellogg in a research note on Tuesday, July 28th. Jefferies Financial Group restated a “hold” rating and set a $71.00 target price on shares of Kellogg in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Kellogg from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Sanford C. Bernstein downgraded Kellogg from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $64.00 to $55.00 in a research note on Thursday, June 11th. Finally, Goldman Sachs Group downgraded Kellogg from a “buy” rating to a “neutral” rating and boosted their price target for the company from $71.00 to $73.00 in a research note on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Kellogg currently has an average rating of “Hold” and an average price target of $70.24.

Shares of K traded down $1.60 during trading hours on Friday, hitting $68.99. The company had a trading volume of 5,541,573 shares, compared to its average volume of 1,810,313. The company has a market capitalization of $23.64 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 4.55 and a beta of 0.57. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 2.19. Kellogg has a one year low of $52.66 and a one year high of $72.88. The company’s fifty day moving average price is $66.92 and its two-hundred day moving average price is $65.16.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a return on equity of 43.36% and a net margin of 8.09%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Analysts forecast that Kellogg will post 3.93 earnings per share for the current year.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $67.48, for a total value of $6,748,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 400,000 shares of company stock valued at $26,766,000 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the business. Profund Advisors LLC raised its stake in Kellogg by 3.7% in the fourth quarter. Profund Advisors LLC now owns 4,812 shares of the company’s stock valued at $333,000 after buying an additional 171 shares in the last quarter. City Holding Co. raised its holdings in Kellogg by 0.5% in the 2nd quarter. City Holding Co. now owns 38,034 shares of the company’s stock valued at $2,512,000 after acquiring an additional 185 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Kellogg by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the company’s stock valued at $713,000 after acquiring an additional 200 shares during the last quarter. Mainstay Capital Management LLC ADV raised its holdings in Kellogg by 1.3% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 15,585 shares of the company’s stock valued at $1,029,000 after acquiring an additional 200 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its holdings in Kellogg by 33.3% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 800 shares of the company’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Kellogg Company Profile

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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Analyst Recommendations for Kellogg (NYSE:K)

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