Kellogg Company (NYSE:K)‘s stock had its “neutral” rating restated by stock analysts at UBS AG in a note issued to investors on Tuesday, www.flashratings.com reports. They presently have a $72.00 price objective on the stock, down from their previous price objective of $76.00. UBS AG’s price objective points to a potential upside of 7.87% from the stock’s previous close.
A number of other equities research analysts have also commented on the company. Sanford C. Bernstein lowered Kellogg from a “market perform” rating to an “underperform” rating in a research report on Tuesday, March 21st. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $80.00 price target (down previously from $82.00) on shares of Kellogg in a research report on Tuesday, April 25th. Credit Suisse Group reduced their price target on Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, May 5th. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Finally, Piper Jaffray Companies began coverage on Kellogg in a research report on Wednesday, May 24th. They set an “overweight” rating and a $78.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Kellogg currently has an average rating of “Hold” and a consensus target price of $77.82.
Kellogg (K) traded down 0.831% during trading on Tuesday, reaching $66.195. The company had a trading volume of 1,245,250 shares. The firm has a market capitalization of $23.19 billion, a PE ratio of 29.952 and a beta of 0.50. Kellogg has a 12-month low of $65.32 and a 12-month high of $87.16. The firm’s 50 day moving average price is $71.60 and its 200 day moving average price is $72.68.
Kellogg (NYSE:K) last issued its earnings results on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. Kellogg had a return on equity of 67.99% and a net margin of 6.07%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Analysts anticipate that Kellogg will post $3.92 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Kellogg Company (NYSE:K) Earns Neutral Rating from UBS AG” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://stocknewstimes.com/2017/07/18/kellogg-company-nysek-earns-neutral-rating-from-ubs-ag.html.
In other Kellogg news, Director James M. Jenness sold 70,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $71.06, for a total transaction of $4,974,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. Insiders have sold 99,900 shares of company stock valued at $7,178,363 over the last ninety days. 1.30% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Kellogg by 6.6% in the first quarter. Vanguard Group Inc. now owns 20,273,984 shares of the company’s stock worth $1,472,094,000 after buying an additional 1,248,613 shares during the last quarter. BlackRock Inc. raised its stake in Kellogg by 2,851.0% in the first quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock valued at $1,464,385,000 after buying an additional 19,484,390 shares in the last quarter. State Street Corp raised its stake in Kellogg by 1.4% in the first quarter. State Street Corp now owns 11,534,453 shares of the company’s stock valued at $837,528,000 after buying an additional 154,732 shares in the last quarter. Lazard Asset Management LLC raised its stake in Kellogg by 2.5% in the first quarter. Lazard Asset Management LLC now owns 4,039,520 shares of the company’s stock valued at $293,308,000 after buying an additional 97,233 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Kellogg by 73.4% in the first quarter. Renaissance Technologies LLC now owns 3,157,600 shares of the company’s stock valued at $229,273,000 after buying an additional 1,336,400 shares in the last quarter. 83.30% of the stock is owned by hedge funds and other institutional investors.
About Kellogg
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with MarketBeat.com's FREE daily email newsletter.
