Today: Today: Brokerages gives Consensus Recommendation of “Hold” to Kellogg Co. (K)

Today: Brokerages gives Consensus Recommendation of “Hold” to Kellogg Co. (K)

Kellogg Co. (NYSE:K) has been given a consensus rating of “Hold” by the eighteen brokerages that are presently covering the firm. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $83.63.

A number of equities research analysts recently weighed in on K shares. Citigroup Inc. dropped their price target on Kellogg from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 5th. JPMorgan Chase & Co. raised their price target on Kellogg from $73.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Royal Bank Of Canada raised their price target on Kellogg from $82.00 to $86.00 and gave the company a “sector perform” rating in a report on Friday, August 5th. Morgan Stanley reaffirmed a “hold” rating and set a $79.00 price target on shares of Kellogg in a report on Thursday, September 1st. Finally, Susquehanna reaffirmed a “hold” rating on shares of Kellogg in a report on Wednesday, September 7th.

In other Kellogg news, insider Paul T. Norman sold 5,420 shares of Kellogg stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $74.89, for a total transaction of $405,903.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ronald L. Dissinger sold 5,843 shares of Kellogg stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $74.88, for a total value of $437,523.84. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of K. Retirement Systems of Alabama raised its position in Kellogg by 42.2% in the second quarter. Retirement Systems of Alabama now owns 182,526 shares of the company’s stock valued at $14,903,000 after buying an additional 54,123 shares in the last quarter. Shell Asset Management Co. raised its position in Kellogg by 8.5% in the second quarter. Shell Asset Management Co. now owns 234,423 shares of the company’s stock valued at $19,141,000 after buying an additional 18,316 shares in the last quarter. Columbus Circle Investors raised its position in Kellogg by 11.3% in the second quarter. Columbus Circle Investors now owns 1,316,254 shares of the company’s stock valued at $107,472,000 after buying an additional 133,353 shares in the last quarter. Guggenheim Capital LLC raised its position in Kellogg by 10.4% in the second quarter. Guggenheim Capital LLC now owns 729,446 shares of the company’s stock valued at $59,560,000 after buying an additional 68,676 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Kellogg by 1.6% in the second quarter. Nisa Investment Advisors LLC now owns 75,827 shares of the company’s stock valued at $6,191,000 after buying an additional 1,190 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Shares of Kellogg (NYSE:K) traded down 0.19% during mid-day trading on Monday, hitting $74.02. The stock had a trading volume of 502,179 shares. The stock has a market cap of $25.97 billion, a price-to-earnings ratio of 37.25 and a beta of 0.55. Kellogg has a 12-month low of $68.20 and a 12-month high of $87.16. The firm’s 50-day moving average price is $74.51 and its 200 day moving average price is $78.21.

Kellogg (NYSE:K) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. The company earned $3.25 billion during the quarter, compared to the consensus estimate of $878.20 million. Kellogg had a return on equity of 61.36% and a net margin of 5.41%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Equities analysts forecast that Kellogg will post $3.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, November 29th. This represents a $2.08 annualized dividend and a yield of 2.80%. Kellogg’s dividend payout ratio is presently 105.05%.

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