Kellogg (NYSE: K) Receives Average Rating of “Hold” from Analysts

Kellogg (NYSE: K – Get Rating) has earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $ 68.80.

K has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on Kellogg from $ 67.00 to $ 65.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 13th. UBS Group initiated coverage on Kellogg in a report on Wednesday, March 30th. They set a “buy” rating and a $ 73.00 target price for the company. Citigroup upped their target price on Kellogg from $ 74.00 to $ 83.00 in a report on Friday, May 6th. Piper Sandler cut Kellogg from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $ 66.00 to $ 62.00 in a research note on Tuesday, May 3rd. Finally, raised Kellogg from a “hold” rating to a “buy” rating in a research note on Monday, May 9th.

In related news, major shareholder Kellogg WK Foundation Trust sold 146,153 shares of the stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $ 69.26, for a total transaction of $ 10,122,556.78. Following the completion of the sale, the insider now owns 57,462,603 ​​shares in the company, valued at $ 3,979,859,883.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 876,918 shares of company stock valued at $ 59,567,578 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. CVA Family Office LLC bought a new stake in Kellogg during the 4th quarter valued at $ 26,000. Allworth Financial LP increased its holdings 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 during the period. Heritage Wealth Advisors purchased a new position in shares of Kellogg in the 4th quarter valued at $ 26,000. AHL Investment Management Inc. bought a new position in shares of Kellogg in the 4th quarter valued at $ 29,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Kellogg in the 1st quarter valued at $ 29,000. 84.34% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE K opened at $ 67.54 on Friday. The stock’s 50-day moving average price is $ 69.37 and its 200-day moving average price is $ 65.88. Kellogg has a twelve month low of $ 59.54 and a twelve month high of $ 75.56. The company has a market capitalization of $ 22.82 billion, a PE ratio of 15.04, a PEG ratio of 4.37 and a beta of 0.48. The company has a quick ratio of 0.39, a current ratio of 0.65 and a debt-to-equity ratio of 1.39.

Kellogg (NYSE: K – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $ 1.10 EPS for the quarter, topping the consensus estimate of $ 0.91 by $ 0.19. Kellogg had a return on equity of 34.82% and a net margin of 10.81%. The business had revenue of $ 3.67 billion during the quarter, compared to analysts’ expectations of $ 3.59 billion. During the same period in the previous year, the business earned $ 1.11 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts expect that Kellogg will post 4.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $ 0.58 dividend. This represents a $ 2.32 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Tuesday, May 31st. Kellogg’s dividend payout ratio (DPR) is currently 51.67%.

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 main 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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Analyst Recommendations for Kellogg (NYSE: K)

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