Kellogg (K) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Kellogg (NYSE:K) from a hold rating to a sell rating in a research note published on Friday.

Several other equities analysts have also commented on K. Zacks Investment Research reaffirmed a sell rating on shares of Kellogg in a research report on Tuesday, November 13th. Deutsche Bank set a $66.00 price target on shares of Kellogg and gave the stock a hold rating in a report on Wednesday, November 14th. Buckingham Research cut their price target on shares of Kellogg from $77.00 to $74.00 and set a buy rating on the stock in a report on Wednesday, November 14th. Citigroup cut their price target on shares of Kellogg from $79.00 to $72.00 and set a buy rating on the stock in a report on Wednesday, November 14th. Finally, Argus cut their price target on shares of Kellogg from $85.00 to $74.00 and set a buy rating on the stock in a report on Tuesday, November 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $64.92.

Shares of Kellogg stock opened at $55.67 on Friday. The company has a market capitalization of $19.21 billion, a P/E ratio of 12.86, a P/E/G ratio of 2.21 and a beta of 0.58. The company has a quick ratio of 0.40, a current ratio of 0.70 and a debt-to-equity ratio of 2.60. Kellogg has a 52 week low of $54.14 and a 52 week high of $74.98.

Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, February 7th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. Kellogg’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. Analysts expect that Kellogg will post 4.06 EPS for the current fiscal year.

In other news, CFO Fareed A. Khan acquired 8,190 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were acquired at an average price of $62.14 per share, with a total value of $508,926.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Steven A. Cahillane acquired 17,825 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were purchased at an average cost of $61.63 per share, for a total transaction of $1,098,554.75. The disclosure for this purchase can be found here. In the last quarter, insiders sold 680,000 shares of company stock worth $40,102,200. 1.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bruderman Asset Management LLC lifted its position in shares of Kellogg by 275.0% during the 4th quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 319 shares in the last quarter. Acima Private Wealth LLC purchased a new position in shares of Kellogg during the 4th quarter valued at approximately $25,000. Capital Investment Advisory Services LLC purchased a new position in shares of Kellogg during the 4th quarter valued at approximately $50,000. Highwater Wealth Management LLC purchased a new position in shares of Kellogg during the 4th quarter valued at approximately $70,000. Finally, Honkamp Krueger Financial Services Inc. purchased a new position in shares of Kellogg during the 3rd quarter valued at approximately $101,000. 87.01% of the stock is currently owned by institutional investors and hedge funds.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

Further Reading: Mutual Funds

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Kellogg (NYSE:K)

Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply