Kellogg (NYSE:K) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 15,360,000 shares, a drop of 11.1% from the December 15th total of 17,280,000 shares. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 9.7 days. Currently, 4.5% of the company’s stock are short sold.
K traded up $0.56 during trading on Thursday, reaching $70.83. The company’s stock had a trading volume of 478,564 shares, compared to its average volume of 1,462,363. Kellogg has a 52-week low of $51.34 and a 52-week high of $70.63. The company’s fifty day moving average price is $67.55 and its 200-day moving average price is $63.09. The company has a market capitalization of $23.88 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.52 and a current ratio of 0.80.
Kellogg (NYSE:K) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. Kellogg had a return on equity of 42.47% and a net margin of 5.35%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the company earned $1.06 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts predict that Kellogg will post 3.88 earnings per share for the current year.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $69.33, for a total transaction of $6,933,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Fernanda Mejia sold 2,136 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $63.70, for a total value of $136,063.20. Following the transaction, the senior vice president now directly owns 25,721 shares in the company, valued at approximately $1,638,427.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 625,291 shares of company stock valued at $41,158,106. 0.09% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in K. Quest Capital Management Inc. ADV purchased a new stake in shares of Kellogg during the 3rd quarter worth approximately $26,000. Financial Architects Inc raised its holdings in Kellogg by 40.0% in the 3rd quarter. Financial Architects Inc now owns 700 shares of the company’s stock valued at $45,000 after acquiring an additional 200 shares during the last quarter. Allred Capital Management LLC acquired a new position in Kellogg in the 4th quarter valued at $45,000. WealthStone Inc. acquired a new position in Kellogg in the 2nd quarter valued at $48,000. Finally, Coastal Investment Advisors Inc. raised its holdings in Kellogg by 46.4% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 824 shares of the company’s stock valued at $53,000 after acquiring an additional 261 shares during the last quarter. 86.96% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on K shares. Royal Bank of Canada started coverage on Kellogg in a report on Thursday, October 17th. They set a “sector perform” rating and a $65.00 price target on the stock. Bank of America raised Kellogg from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.00 to $75.00 in a report on Friday, December 20th. Deutsche Bank started coverage on Kellogg in a report on Wednesday, December 11th. They set a “buy” rating and a $74.00 price target on the stock. Evercore ISI started coverage on Kellogg in a report on Thursday, October 24th. They set an “in-line” rating and a $67.00 price target on the stock. Finally, Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $67.75.
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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