DZ Bank Lowers Kellogg (K) to Hold

DZ Bank lowered shares of Kellogg (NYSE:K) from a buy rating to a hold rating in a research note issued to investors on Friday.

A number of other research analysts have also recently commented on K. Argus upgraded Kellogg from a hold rating to a buy rating and set a $73.00 price objective on the stock in a research note on Wednesday, November 22nd. UBS reduced their price objective on Kellogg from $72.00 to $67.00 and set a neutral rating on the stock in a research note on Wednesday, November 1st. Buckingham Research reduced their price objective on Kellogg from $79.00 to $74.00 and set a buy rating on the stock in a research note on Wednesday, November 1st. Royal Bank Of Canada boosted their price objective on Kellogg from $78.00 to $79.00 and gave the stock a sector perform rating in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $72.00 price objective on Kellogg and gave the stock a hold rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $71.15.

Kellogg (NYSE K) opened at $66.53 on Friday. Kellogg has a fifty-two week low of $58.76 and a fifty-two week high of $76.69. The firm has a market capitalization of $22,984.29, a price-to-earnings ratio of 16.63, a P/E/G ratio of 2.69 and a beta of 0.52. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43.

Kellogg (NYSE:K) last issued its earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. equities analysts forecast that Kellogg will post 4.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, November 30th. Kellogg’s payout ratio is 96.43%.

In other news, CEO Steven A. Cahillane acquired 15,930 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was purchased at an average cost of $62.70 per share, with a total value of $998,811.00. Following the completion of the acquisition, the chief executive officer now directly owns 15,930 shares in the company, valued at $998,811. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $65.00, for a total value of $207,675.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 349,754 shares of company stock worth $22,304,119. Corporate insiders own 1.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. CLS Investments LLC acquired a new position in Kellogg in the third quarter valued at approximately $124,000. Koch Industries Inc. acquired a new position in Kellogg in the second quarter valued at approximately $217,000. FDO Partners LLC acquired a new position in Kellogg in the third quarter valued at approximately $219,000. Raab & Moskowitz Asset Management LLC acquired a new position in Kellogg in the second quarter valued at approximately $222,000. Finally, Valeo Financial Advisors LLC acquired a new position in Kellogg in the third quarter valued at approximately $224,000. 89.65% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Kellogg (NYSE:K)

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