BMO Capital Markets Reiterates Hold Rating for Kellogg Company (NYSE:K)

BMO Capital Markets reiterated their hold rating on shares of Kellogg Company (NYSE:K) in a research report released on Wednesday, September 6th. They currently have a $78.00 price objective on the stock.

A number of other research analysts also recently weighed in on the company. BidaskClub downgraded Kellogg from a sell rating to a strong sell rating in a research note on Friday, June 23rd. Zacks Investment Research downgraded Kellogg from a hold rating to a sell rating in a research note on Tuesday, May 9th. Morgan Stanley reissued an equal weight rating and issued a $69.00 price objective (down from $74.00) on shares of Kellogg in a research note on Tuesday, July 18th. Sanford C. Bernstein set a $62.00 price objective on Kellogg and gave the stock a sell rating in a research note on Tuesday, June 27th. Finally, Credit Suisse Group lowered their price objective on Kellogg from $80.00 to $75.00 and set a neutral rating for the company in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Kellogg presently has a consensus rating of Hold and an average target price of $74.50.

Shares of Kellogg (NYSE K) opened at 68.32 on Wednesday. The firm has a 50-day moving average of $68.39 and a 200 day moving average of $70.57. The company has a market capitalization of $23.58 billion, a PE ratio of 30.93 and a beta of 0.49. Kellogg has a 12 month low of $65.06 and a 12 month high of $78.69.

Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts expect that Kellogg will post $3.98 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This news story was originally published by BBNS and is the property of of BBNS. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://baseballnewssource.com/markets/kelloggs-k-hold-rating-reiterated-at-bmo-capital-markets/1615520.html.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.16%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s dividend payout ratio is currently 97.74%.

Several hedge funds have recently modified their holdings of the stock. Invictus RG purchased a new stake in Kellogg during the first quarter valued at about $458,000. Dupont Capital Management Corp purchased a new stake in Kellogg during the second quarter valued at about $268,000. Beutel Goodman & Co Ltd. raised its position in Kellogg by 28.8% during the second quarter. Beutel Goodman & Co Ltd. now owns 2,757,435 shares of the company’s stock valued at $147,525,000 after purchasing an additional 616,120 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Kellogg by 157.0% during the second quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock valued at $950,000 after buying an additional 8,353 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Kellogg by 6.6% during the first quarter. Vanguard Group Inc. now owns 20,273,984 shares of the company’s stock valued at $1,472,094,000 after buying an additional 1,248,613 shares during the last quarter. Institutional investors own 85.42% of the company’s stock.

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)

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

 


Latest News

Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster


Leave a Reply

 
© 2006-2017 BBNS.