Kellogg (NYSE:K- Get a rating) saw its target price raised by Credit Suisse Group research analysts to $72.00 in a note issued to investors on Tuesday, Target Stock Advisor reports. Credit Suisse Group’s price target would suggest a potential decline of 4.59% from the current share price.
Several other brokerages have also recently weighed in on K. UBS Group downgraded Kellogg from a “buy” rating to a “neutral” rating and reduced its price target for the company from $81.00 to $74.00. $ in a Thursday July 7 report. Morgan Stanley raised its price target on Kellogg from $69.00 to $72.00 and gave the company an “equal weight” rating in a Thursday, July 14 report. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a price target of $67.00 (vs. $64.00) on Kellogg’s stock in a Wednesday, June 22 report. Citigroup raised its price target on Kellogg from $83.00 to $87.00 and gave the stock a “buy” rating in a Wednesday, June 22 report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Kellogg from $74.00 to $72.00 and set a “hold” rating for the company in a Wednesday, June 22 report. Two equity research analysts gave the stock a sell rating, seven issued a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.20.
Kellogg Price Performance
Shares of NYSE:K traded up $0.78 during Tuesday’s trading, hitting $75.46. 37,652 shares were traded, against an average volume of 2,414,201. The company has a fifty-day moving average price of $71.07 and a two-hundred-day moving average price of $67.81. The company has a market capitalization of $25.66 billion, a PE ratio of 17.42, a P/E/G ratio of 4.78 and a beta of 0.43. The company has a current ratio of 0.70, a quick ratio of 0.43 and a debt ratio of 1.28. Kellogg has a 12-month low of $59.54 and a 12-month high of $76.45.
Kellogg (NYSE:K- Get a rating) last announced its quarterly results on Thursday, August 4. The company reported EPS of $1.18 for the quarter, beating the consensus estimate of $1.05 by $0.13. Kellogg had a return on equity of 33.77% and a net margin of 10.21%. The company posted revenue of $3.86 billion for the quarter, versus analyst estimates of $3.64 billion. In the same quarter of the previous year, the company achieved EPS of $1.14. The company’s quarterly revenue increased 8.7% year over year. On average, analysts expect Kellogg to post EPS of 4.14 for the current year.
Insider Buying and Selling at Kellogg
In other Kellogg news, top shareholder Kellogg WK Foundation Trust sold 146,153 shares of the company in a deal that took place on Friday, June 10. The shares were sold at an average price of $69.26, for a total value of $10,122,556.78. Following the sale, the insider now owns 57,462,603 shares of the company, valued at $3,979,859,883.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. In the past 90 days, insiders have sold 730,765 shares of the company worth $51,187,165. 1.40% of the shares are held by insiders of the company.
Institutional entries and exits
Several hedge funds have recently increased or reduced their stake in K. Mitsubishi UFJ Trust & Banking Corp increased its stake in Kellogg shares by 29.0% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 439,792 shares of the company valued at $31,375,000 after buying an additional 98,905 shares last quarter. The Swiss National Bank increased its holdings of Kellogg shares by 0.3% during the second quarter. The Swiss National Bank now owns 1,111,513 shares of the company valued at $79,295,000 after buying 3,400 more shares last quarter. SeaCrest Wealth Management LLC increased its holdings of Kellogg shares by 172.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 20,394 shares of the company valued at $1,455,000 after purchasing an additional 12,897 shares last quarter. Lazard Asset Management LLC increased its stake in Kellogg shares by 11.9% during the second quarter. Lazard Asset Management LLC now owns 343,314 shares of the company valued at $24,492,000 after purchasing an additional 36,639 shares last quarter. Finally, Leelyn Smith LLC increased its stake in Kellogg shares by 6.2% during the second quarter. Leelyn Smith LLC now owns 29,584 shares of the company valued at $2,111,000 after purchasing an additional 1,722 shares last quarter. Institutional investors and hedge funds hold 84.34% of the company’s shares.
Kellogg Company Profile
Kellogg Company, together with its subsidiaries, manufactures and markets snacks and ready meals. The Company operates through four segments: North America, Europe, Latin America and Asia Middle East Africa. Its main products include crackers, chips, salty snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, vegetarian foods and noodles.
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