Kellogg Company (NYSE:K) Given New $67.00 Price Target at UBS AG

Kellogg Company (NYSE:K) had its target price cut by UBS AG from $72.00 to $67.00 in a report published on Wednesday, November 1st, www.benzinga.com reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently commented on the company. 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. Piper Jaffray Companies lowered Kellogg from an overweight rating to a neutral rating and set a $78.00 price target for the company. in a report on Tuesday, September 19th. Credit Suisse Group cut their price target on Kellogg from $70.00 to $65.00 and set a neutral rating for the company in a report on Friday, October 20th. Morgan Stanley reissued an equal weight rating and set a $69.00 price target (down previously from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Finally, BMO Capital Markets reissued a hold rating and set a $78.00 price target on shares of Kellogg in a report on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $71.00.

Kellogg (NYSE:K) opened at $65.56 on Wednesday. Kellogg has a one year low of $58.76 and a one year high of $76.69. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. The firm has a market capitalization of $22,580.09, a price-to-earnings ratio of 16.34, a PEG ratio of 2.64 and a beta of 0.49.

Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. research analysts expect that Kellogg will post 4.04 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 30th. Kellogg’s payout ratio is presently 96.43%.

In other Kellogg news, Director James M. Jenness sold 26,592 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $63.08, for a total transaction of $1,677,423.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Donald R. Knauss sold 6,846 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total value of $428,354.22. Following the sale, the director now owns 5,000 shares in the company, valued at $312,850. The disclosure for this sale can be found here. Over the last three months, insiders have sold 223,438 shares of company stock valued at $14,077,678. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in Kellogg during the third quarter valued at approximately $1,629,000. Belpointe Asset Management LLC purchased a new stake in shares of Kellogg in the third quarter worth approximately $389,000. IFM Investors Pty Ltd purchased a new stake in shares of Kellogg in the third quarter worth approximately $473,000. Capital Wealth Planning LLC purchased a new stake in shares of Kellogg in the third quarter worth approximately $231,000. Finally, PVG Asset Management Corp purchased a new stake in shares of Kellogg in the third quarter worth approximately $549,000. Institutional investors and hedge funds own 86.85% of the company’s stock.

Kellogg Company Profile

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)

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