Kellogg (NYSE:K) Upgraded to “B-” by TheStreet

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Kellogg (NYSE:K) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a research report issued on Monday, TheStreetRatingsTable reports.

A number of other analysts also recently weighed in on K. Morgan Stanley upped their price target on shares of Kellogg from $56.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. GMP Securities reaffirmed a “buy” rating on shares of Kellogg in a report on Thursday, July 11th. Barclays set a $62.00 price target on shares of Kellogg and gave the stock a “sell” rating in a report on Friday, August 2nd. ValuEngine raised shares of Kellogg from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Consumer Edge downgraded shares of Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 price target for the company. in a report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $63.47.

NYSE K opened at $62.70 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 2.67. The company has a market cap of $21.17 billion, a P/E ratio of 14.48, a P/E/G ratio of 3.55 and a beta of 0.61. Kellogg has a 12-month low of $51.34 and a 12-month high of $74.98. The firm has a 50-day simple moving average of $57.58.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.08. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.41 billion. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 EPS. As a group, research analysts forecast that Kellogg will post 3.89 earnings per share for the current fiscal year.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $54.84, for a total value of $5,484,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 600,000 shares of company stock valued at $33,914,000. 0.09% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in K. Ceredex Value Advisors LLC increased its position in Kellogg by 37.1% in the 1st quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock valued at $163,488,000 after acquiring an additional 771,375 shares during the period. Renaissance Technologies LLC lifted its position in Kellogg by 12.7% in the second quarter. Renaissance Technologies LLC now owns 5,523,983 shares of the company’s stock worth $295,920,000 after buying an additional 623,700 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in Kellogg by 275.8% in the second quarter. AustralianSuper Pty Ltd now owns 815,645 shares of the company’s stock worth $43,694,000 after buying an additional 598,580 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its position in Kellogg by 13.5% in the first quarter. Beutel Goodman & Co Ltd. now owns 3,894,578 shares of the company’s stock worth $167,224,000 after buying an additional 462,398 shares during the last quarter. Finally, AMF Pensionsforsakring AB bought a new stake in Kellogg in the second quarter worth $19,925,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Kellogg Company Profile

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

Read More: Profit margin is different from the revenue

Analyst Recommendations for Kellogg (NYSE:K)

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