Kellogg Company (K) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Kellogg Company (NYSE:K) from a sell rating to a strong sell rating in a research report report published on Friday, June 23rd.

Several other analysts have also recently issued reports on the company. Sanford C. Bernstein cut Kellogg from a market perform rating to an underperform rating in a research note on Tuesday, March 21st. Zacks Investment Research cut Kellogg from a hold rating to a sell rating in a research report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a neutral rating and set a $80.00 price target (down from $82.00) on shares of Kellogg in a research report on Tuesday, April 25th. TheStreet upgraded Kellogg from a c+ rating to a b+ rating in a research report on Thursday, May 4th. Finally, Credit Suisse Group dropped their price target on Kellogg from $80.00 to $75.00 and set a neutral rating on the stock in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Kellogg has an average rating of Hold and an average target price of $79.09.

Kellogg (NYSE:K) opened at 66.75 on Friday. The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of 30.20 and a beta of 0.50. Kellogg has a 12-month low of $65.32 and a 12-month high of $87.16. The company has a 50 day moving average of $71.60 and a 200-day moving average of $72.68.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, May 4th. The company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Kellogg had a return on equity of 67.99% and a net margin of 6.07%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Kellogg will post $3.92 earnings per share for the current year.

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In related news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Dillon sold 4,900 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The disclosure for this sale can be found here. Insiders sold 99,900 shares of company stock valued at $7,178,363 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of K. Independent Advisor Alliance acquired a new position in Kellogg during the fourth quarter valued at approximately $116,000. Exane Derivatives boosted its stake in shares of Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock valued at $134,000 after buying an additional 1,403 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in shares of Kellogg during the first quarter valued at about $143,000. Security National Trust Co. boosted its stake in shares of Kellogg by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock valued at $150,000 after buying an additional 139 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock valued at $161,000 after buying an additional 31 shares during the last quarter. 83.30% of the stock is currently owned by hedge funds and other institutional investors.

About Kellogg

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.

Analyst Recommendations for Kellogg (NYSE:K)

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