Kellogg (K) Rating Increased to Hold at ValuEngine

Kellogg (NYSE:K) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

K has been the subject of a number of other research reports. Royal Bank of Canada restated a “hold” rating and set a $72.00 target price on shares of Kellogg in a research report on Tuesday, April 24th. Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. Credit Suisse Group set a $63.00 price objective on shares of Kellogg and gave the company a “hold” rating in a research report on Monday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of Kellogg from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, May 1st. Finally, Piper Jaffray Companies raised shares of Kellogg from a “neutral” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $70.79.

Shares of Kellogg opened at $69.05 on Tuesday, according to MarketBeat.com. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 3.09. The stock has a market cap of $23.38 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51. Kellogg has a 12-month low of $56.40 and a 12-month high of $71.65.

Kellogg (NYSE:K) last announced its earnings results on Thursday, May 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.11. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.30 billion. Kellogg had a net margin of 11.10% and a return on equity of 67.81%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. research analysts anticipate that Kellogg will post 4.45 earnings per share for the current year.

In related news, SVP Amit Banati sold 1,992 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $65.03, for a total value of $129,539.76. Following the completion of the sale, the senior vice president now directly owns 19,619 shares in the company, valued at $1,275,823.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $65.64, for a total transaction of $16,410,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 626,992 shares of company stock valued at $39,993,290. 1.40% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. NuWave Investment Management LLC purchased a new stake in Kellogg during the first quarter worth approximately $139,000. QCI Asset Management Inc. NY grew its stake in Kellogg by 985.2% during the first quarter. QCI Asset Management Inc. NY now owns 2,203 shares of the company’s stock worth $143,000 after buying an additional 2,000 shares during the period. Huber Financial Advisors LLC purchased a new stake in Kellogg during the first quarter worth approximately $205,000. Gideon Capital Advisors Inc. purchased a new stake in Kellogg during the first quarter worth approximately $213,000. Finally, Focused Wealth Management Inc purchased a new stake in Kellogg during the fourth quarter worth approximately $235,000. Hedge funds and other institutional investors own 88.81% 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 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Kellogg (NYSE:K)

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