Deutsche Bank set a $66.00 price target on Kellogg (NYSE:K) in a research report report published on Wednesday morning, Marketbeat.com reports. The firm currently has a hold rating on the stock.
Other equities analysts also recently issued reports about the company. Citigroup decreased their price target on Kellogg from $87.00 to $79.00 and set a buy rating for the company in a research note on Thursday, November 1st. Buckingham Research decreased their price target on Kellogg from $80.00 to $77.00 and set a buy rating for the company in a research note on Thursday, November 1st. ValuEngine upgraded Kellogg from a hold rating to a buy rating in a research note on Wednesday, October 24th. Piper Jaffray Companies set a $79.00 price target on Kellogg and gave the stock a buy rating in a research note on Tuesday, October 16th. Finally, Argus decreased their price target on Kellogg from $85.00 to $74.00 and set a buy rating for the company in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $70.22.
NYSE:K traded down $0.79 during mid-day trading on Wednesday, reaching $61.73. The stock had a trading volume of 3,385,716 shares, compared to its average volume of 3,314,428. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.50. Kellogg has a 1-year low of $56.40 and a 1-year high of $74.98. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.52 and a current ratio of 0.84.
Kellogg (NYSE:K) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate of $1.07 by ($0.01). The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.43 billion. Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. On average, equities research analysts forecast that Kellogg will post 4.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. Kellogg’s dividend payout ratio is currently 55.45%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $69.72, for a total value of $14,292,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of K. Bank of New York Mellon Corp raised its holdings in shares of Kellogg by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock valued at $372,017,000 after buying an additional 1,076,748 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Kellogg during the second quarter valued at approximately $65,600,000. Millennium Management LLC raised its holdings in shares of Kellogg by 61.8% during the second quarter. Millennium Management LLC now owns 2,418,179 shares of the company’s stock valued at $168,958,000 after buying an additional 923,365 shares during the last quarter. Putnam Investments LLC raised its holdings in shares of Kellogg by 25,701.7% during the second quarter. Putnam Investments LLC now owns 851,713 shares of the company’s stock valued at $59,509,000 after buying an additional 848,412 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Kellogg by 211.5% during the second quarter. Great West Life Assurance Co. Can now owns 943,292 shares of the company’s stock valued at $66,005,000 after buying an additional 640,495 shares during the last quarter. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
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. 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.
Featured Story: What are the risks of holding treasury bonds?
Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.