Kellogg (NYSE:K) Receives Average Rating of “Hold” from Analysts

Posted by on Jun 18th, 2022

Shares of Kellogg (NYSE:K – Get Rating) have received an average rating of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $68.80.

K has been the subject of a number of recent research reports. StockNews.com upgraded Kellogg from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Citigroup boosted their target price on Kellogg from $74.00 to $83.00 in a research report on Friday, May 6th. UBS Group started coverage on Kellogg in a research report on Wednesday, March 30th. They issued a “buy” rating and a $73.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded Kellogg from a “buy” rating to a “hold” rating and lowered their price objective for the company from $74.00 to $73.00 in a research report on Monday, April 25th. Finally, Credit Suisse Group boosted their price objective on Kellogg from $62.00 to $69.00 in a research report on Monday, May 9th.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $69.26, for a total transaction of $10,122,556.78. Following the transaction, the insider now directly owns 57,462,603 shares of the company’s stock, valued at $3,979,859,883.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 876,918 shares of company stock worth $59,567,578. Insiders own 1.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. CVA Family Office LLC bought a new position in Kellogg in the fourth quarter valued at about $26,000. Allworth Financial LP raised its stake in shares of Kellogg by 108.9% in the first quarter. Allworth Financial LP now owns 397 shares of the company’s stock worth $26,000 after buying an additional 207 shares during the period. Heritage Wealth Advisors bought a new position in shares of Kellogg in the fourth quarter worth about $26,000. AHL Investment Management Inc. bought a new position in shares of Kellogg in the fourth quarter worth about $29,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Kellogg in the first quarter worth about $29,000. 84.34% of the stock is currently owned by institutional investors.

K stock opened at $67.54 on Friday. Kellogg has a 52-week low of $59.54 and a 52-week high of $75.56. The business has a 50-day simple moving average of $69.37 and a two-hundred day simple moving average of $65.88. The company has a market capitalization of $22.82 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 4.37 and a beta of 0.48. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.39 and a current ratio of 0.65.

Kellogg (NYSE:K – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. Kellogg had a return on equity of 34.82% and a net margin of 10.81%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the business earned $1.11 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Kellogg will post 4.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $0.58 dividend. The ex-dividend date was Tuesday, May 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.44%. Kellogg’s dividend payout ratio is currently 51.67%.

Kellogg Company Profile (Get Rating)

Kellogg Company, together with its subsidiaries, manufactures and markets snacks 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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Analyst Recommendations for Kellogg (NYSE:K)

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