Kellogg (NYSE:K) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Kellogg (NYSE:K – Get Rating) from a hold rating to a buy rating in a research report report published on Monday morning.

A number of other analysts also recently weighed in on K. TheStreet downgraded Kellogg from a b rating to a c+ rating in a research note on Thursday, February 9th. Deutsche Bank Aktiengesellschaft decreased their price target on Kellogg from $74.00 to $72.00 in a research note on Monday, January 30th. Exane BNP Paribas initiated coverage on Kellogg in a research report on Tuesday, November 15th. They set an underperform rating and a $66.00 target price on the stock. Morgan Stanley boosted their target price on Kellogg from $72.00 to $74.00 and gave the stock an equal weight rating in a research report on Tuesday, December 20th. Finally, BNP Paribas initiated coverage on Kellogg in a research report on Tuesday, November 15th. They set an underperform rating and a $66.00 target price on the stock. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $72.11.

Kellogg Trading Up 0.6 %

NYSE:K opened at $64.26 on Monday. The firm has a market cap of $21.97 billion, a P/E ratio of 23.03, a PEG ratio of 2.63 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 1.22. The stock’s 50 day simple moving average is $67.86 and its 200-day simple moving average is $70.71. Kellogg has a 12-month low of $59.54 and a 12-month high of $77.17.

Kellogg (NYSE:K – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. Kellogg had a return on equity of 32.51% and a net margin of 6.27%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Kellogg will post 4.04 EPS for the current year.

Kellogg announced that its Board of Directors has initiated a stock buyback plan on Monday, December 12th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $2.36 annualized dividend and a dividend yield of 3.67%. Kellogg’s dividend payout ratio is currently 84.59%.

Insider Activity

In related news, SVP Rodrigo Lance sold 2,975 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $67.79, for a total value of $201,675.25. Following the completion of the transaction, the senior vice president now directly owns 14,935 shares in the company, valued at $1,012,443.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Vice Chairman Gary H. Pilnick sold 22,197 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $68.81, for a total value of $1,527,375.57. Following the completion of the transaction, the insider now directly owns 23,464 shares in the company, valued at $1,614,557.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rodrigo Lance sold 2,975 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $67.79, for a total value of $201,675.25. Following the completion of the transaction, the senior vice president now owns 14,935 shares of the company’s stock, valued at $1,012,443.65. The disclosure for this sale can be found here. Insiders have sold 528,437 shares of company stock worth $35,770,511 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kellogg

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its stake in Kellogg by 379.2% during the third quarter. AdvisorNet Financial Inc now owns 369 shares of the company’s stock worth $26,000 after acquiring an additional 292 shares during the last quarter. Heritage Wealth Management LLC acquired a new stake in shares of Kellogg in the fourth quarter valued at about $28,000. Asset Dedication LLC acquired a new stake in shares of Kellogg in the third quarter valued at about $29,000. Coston McIsaac & Partners acquired a new stake in shares of Kellogg in the second quarter valued at about $31,000. Finally, RFP Financial Group LLC acquired a new stake in shares of Kellogg in the fourth quarter valued at about $32,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Kellogg Company Profile

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Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).