Press coverage about Kellogg (NYSE:K) has been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Kellogg earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned media stories about the company an impact score of 45.8980975311676 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s analysis:
- PREP BOYS BASKETBALL: Kellogg tops St. Maries in OT – Coeur d’Alene Press (cdapress.com)
- Franklin R. Kellogg – Stowe Today (stowetoday.com)
- Adventist Review Online | U.S. Court of Appeals Rules for Plaintiffs … – Adventist Review (adventistreview.org)
- Kellogg and I-235 closing again in west Wichita – Story – KFDI.com – KFDI (kfdi.com)
- Two Seventh-day Adventists suing Kellogg Co. for religious discrimination (battlecreekenquirer.com)
K has been the subject of a number of research reports. Royal Bank of Canada set a $81.00 price objective on Kellogg and gave the company a “hold” rating in a research report on Wednesday, October 18th. Credit Suisse Group reduced their price target on Kellogg from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. Argus raised Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research report on Wednesday, November 22nd. Buckingham Research reduced their price target on Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Finally, Citigroup boosted their price target on Kellogg from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Kellogg presently has an average rating of “Hold” and a consensus target price of $72.57.
Kellogg (NYSE:K) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. analysts predict that Kellogg will post 4.03 earnings per share for the current year.
Kellogg declared that its board has approved a share repurchase program on Friday, December 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $65.14, for a total transaction of $5,120,394.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $65.11, for a total value of $2,898,371.65. Following the transaction, the insider now owns 67,887,323 shares in the company, valued at $4,420,143,600.53. The disclosure for this sale can be found here. Insiders sold 349,754 shares of company stock worth $22,304,119 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.
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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.
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