Kellogg (NYSE:K) Price Target Lowered to $65.00 at Jefferies Financial Group

Kellogg (NYSE:K) had its price objective reduced by Jefferies Financial Group from $69.00 to $65.00 in a research report issued on Tuesday, The Fly reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 9.91% from the company’s previous close. Jefferies Financial Group also issued estimates for Kellogg’s Q1 2022 earnings at $1.02 EPS.

Several other analysts have also recently commented on K. Credit Suisse Group cut shares of Kellogg from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $77.00 to $68.00 in a research note on Monday, November 23rd. Piper Sandler cut shares of Kellogg from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $76.00 to $66.00 in a research note on Tuesday, January 5th. Finally, BidaskClub cut shares of Kellogg from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Kellogg currently has an average rating of “Hold” and a consensus price target of $69.21.

Shares of Kellogg stock opened at $59.14 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.58 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $20.33 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 4.25 and a beta of 0.59. Kellogg has a 1-year low of $52.66 and a 1-year high of $72.88. The firm’s 50-day moving average price is $61.91 and its two-hundred day moving average price is $65.46.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. Kellogg had a net margin of 8.80% and a return on equity of 41.23%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. Kellogg’s revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Kellogg will post 4.03 EPS for the current year.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the firm’s stock in a transaction on Monday, December 21st. The shares were sold at an average price of $60.94, for a total transaction of $5,078,373.96. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the firm’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $59.66, for a total transaction of $4,971,646.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 500,001 shares of company stock worth $31,438,400. Company insiders own 1.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Capital Investment Advisors LLC grew its position in Kellogg by 0.7% in the third quarter. Capital Investment Advisors LLC now owns 24,309 shares of the company’s stock valued at $1,570,000 after purchasing an additional 166 shares in the last quarter. Leelyn Smith LLC grew its position in Kellogg by 1.0% in the third quarter. Leelyn Smith LLC now owns 19,735 shares of the company’s stock valued at $1,275,000 after purchasing an additional 196 shares in the last quarter. NN Investment Partners Holdings N.V. grew its position in Kellogg by 33.3% in the third quarter. NN Investment Partners Holdings N.V. now owns 800 shares of the company’s stock valued at $52,000 after purchasing an additional 200 shares in the last quarter. Physicians Financial Services Inc. grew its position in Kellogg by 4.7% in the third quarter. Physicians Financial Services Inc. now owns 4,471 shares of the company’s stock valued at $289,000 after purchasing an additional 200 shares in the last quarter. Finally, Covington Capital Management grew its position in Kellogg by 5.3% in the third quarter. Covington Capital Management now owns 3,950 shares of the company’s stock valued at $255,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.

Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal 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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