Kellogg (NYSE:K)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $66.29 and last traded at $66.13, with a volume of 17411 shares. The stock had previously closed at $65.65.
A number of analysts recently issued reports on K shares. Evercore ISI began coverage on shares of Kellogg in a report on Thursday, October 24th. They set an “in-line” rating and a $67.00 price objective for the company. Royal Bank of Canada initiated coverage on Kellogg in a research report on Thursday, October 17th. They set a “sector perform” rating and a $65.00 price target on the stock. TheStreet upgraded Kellogg from a “c+” rating to a “b-” rating in a research note on Monday, August 12th. Barclays lowered Kellogg to an “equal weight” rating in a report on Tuesday, October 15th. Finally, Edward Jones upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Kellogg has an average rating of “Hold” and a consensus target price of $63.20.
The business’s 50 day moving average is $63.65 and its two-hundred day moving average is $60.42. The firm has a market capitalization of $22.21 billion, a PE ratio of 15.22, a P/E/G ratio of 3.72 and a beta of 0.52. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.80 and a quick ratio of 0.52.
Kellogg (NYSE:K) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.12. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. Analysts expect that Kellogg will post 3.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.28 dividend on an annualized basis and a yield of 3.46%. Kellogg’s payout ratio is 52.66%.
In other news, SVP Alistair D. Hirst sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $63.88, for a total value of $159,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $63.09, for a total transaction of $6,309,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 625,291 shares of company stock valued at $39,662,106. Corporate insiders own 0.09% of the company’s stock.
Large investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings in Kellogg by 19.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,074,756 shares of the company’s stock worth $57,575,000 after acquiring an additional 172,959 shares during the last quarter. InterOcean Capital LLC bought a new stake in shares of Kellogg in the 2nd quarter worth approximately $663,000. First Mercantile Trust Co. grew its position in shares of Kellogg by 96.0% in the 3rd quarter. First Mercantile Trust Co. now owns 1,842 shares of the company’s stock worth $119,000 after buying an additional 902 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in shares of Kellogg by 70.7% during the second quarter. Point72 Hong Kong Ltd now owns 8,554 shares of the company’s stock valued at $458,000 after buying an additional 3,542 shares during the period. Finally, Everett Harris & Co. CA raised its holdings in shares of Kellogg by 16.0% during the second quarter. Everett Harris & Co. CA now owns 9,025 shares of the company’s stock valued at $483,000 after acquiring an additional 1,245 shares in the last quarter. Institutional investors own 86.95% of the company’s stock.
Kellogg Company Profile (NYSE:K)
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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