Kellogg (NYSE:K) Given “Average” Rating at Canaccord Genuity

Canaccord Genuity reiterated their average rating on shares of Kellogg (NYSE:K) in a report issued on Tuesday, June 25th, Stock Target Advisor reports.

Other equities analysts also recently issued research reports about the stock. Consumer Edge downgraded shares of Kellogg from an equal weight rating to an underweight rating and set a $49.00 target price on the stock. in a report on Monday, June 24th. Piper Jaffray Companies set a $16.00 price target on shares of WPX Energy and gave the company a buy rating in a research note on Friday, April 5th. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research note on Tuesday, May 7th. Morgan Stanley set a $56.00 target price on shares of Kellogg and gave the stock a hold rating in a report on Tuesday, April 2nd. Finally, ValuEngine raised shares of USINAS SIDERURG/S from a sell rating to a hold rating in a research report on Wednesday, May 29th. Two 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 company currently has an average rating of Hold and an average target price of $62.05.

NYSE K traded up $0.98 on Tuesday, hitting $56.98. The stock had a trading volume of 3,412,800 shares, compared to its average volume of 2,535,117. Kellogg has a 52-week low of $51.34 and a 52-week high of $74.98. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $19.07 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 3.18 and a beta of 0.63. The business has a 50-day moving average of $54.93.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.06. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. Equities research analysts expect that Kellogg will post 3.86 EPS for the current year.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 600,000 shares of company stock worth $33,769,000 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Hamilton Point Investment Advisors LLC grew its stake in Kellogg by 1.1% during the 2nd quarter. Hamilton Point Investment Advisors LLC now owns 43,692 shares of the company’s stock valued at $2,341,000 after purchasing an additional 494 shares in the last quarter. Capital Investment Advisors LLC grew its stake in Kellogg by 3.0% during the 2nd quarter. Capital Investment Advisors LLC now owns 12,959 shares of the company’s stock valued at $694,000 after purchasing an additional 378 shares in the last quarter. American National Bank grew its stake in Kellogg by 374.8% during the 2nd quarter. American National Bank now owns 6,909 shares of the company’s stock valued at $370,000 after purchasing an additional 5,454 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Kellogg by 1.0% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 137,478 shares of the company’s stock valued at $7,365,000 after purchasing an additional 1,300 shares in the last quarter. Finally, NEXT Financial Group Inc grew its stake in Kellogg by 14,356.8% during the 2nd quarter. NEXT Financial Group Inc now owns 37,154 shares of the company’s stock valued at $1,990,000 after purchasing an additional 36,897 shares in the last quarter. Institutional investors own 87.16% of the company’s stock.

About Kellogg

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.

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Analyst Recommendations for Kellogg (NYSE:K)

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