Brokerages Set Kellogg (K) Target Price at $65.69

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Shares of Kellogg (NYSE:K) have earned an average recommendation of “Hold” from the nineteen analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $64.54.

Several research firms have weighed in on K. TheStreet lowered Kellogg from a “b-” rating to a “c” rating in a report on Thursday, February 7th. Credit Suisse Group reduced their target price on Kellogg from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, November 1st. ValuEngine lowered Kellogg from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Citigroup reduced their target price on Kellogg from $87.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Finally, Piper Jaffray Companies set a $69.00 target price on Kellogg and gave the stock a “buy” rating in a report on Friday.

K stock traded up $0.74 during midday trading on Friday, hitting $56.41. 1,639,786 shares of the company’s stock were exchanged, compared to its average volume of 2,679,942. The company has a current ratio of 0.70, a quick ratio of 0.40 and a debt-to-equity ratio of 2.60. The firm has a market cap of $19.21 billion, a PE ratio of 13.03, a P/E/G ratio of 2.21 and a beta of 0.58. Kellogg has a one year low of $54.14 and a one year high of $74.98.

Kellogg (NYSE:K) last posted its earnings results on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. On average, analysts forecast that Kellogg will post 4.06 earnings per share for the current year.

In related news, Chairman Steven A. Cahillane bought 17,825 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average price of $61.63 per share, with a total value of $1,098,554.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Fareed A. Khan bought 8,190 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was bought at an average cost of $62.14 per share, for a total transaction of $508,926.60. The disclosure for this purchase can be found here. Insiders sold a total of 680,000 shares of company stock worth $40,102,200 in the last three months. Company insiders own 1.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Sun Life Financial INC increased its position in shares of Kellogg by 0.9% in the fourth quarter. Sun Life Financial INC now owns 21,889 shares of the company’s stock valued at $1,249,000 after acquiring an additional 199 shares during the last quarter. Moody National Bank Trust Division increased its position in Kellogg by 0.6% during the fourth quarter. Moody National Bank Trust Division now owns 34,785 shares of the company’s stock worth $1,983,000 after buying an additional 215 shares during the last quarter. Northside Capital Management LLC increased its position in Kellogg by 3.0% during the fourth quarter. Northside Capital Management LLC now owns 8,205 shares of the company’s stock worth $468,000 after buying an additional 241 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Kellogg by 1.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,203 shares of the company’s stock worth $1,152,000 after buying an additional 262 shares during the last quarter. Finally, Bruderman Asset Management LLC increased its position in Kellogg by 275.0% during the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after buying an additional 319 shares during the last quarter. 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.

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Analyst Recommendations for Kellogg (NYSE:K)

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