Kellogg (NYSE:K) Stock Rating Lowered by ValuEngine

Kellogg (NYSE:K) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Sunday, May 5th, ValuEngine reports.

K has been the topic of several other reports. TheStreet cut shares of Kellogg from a “b-” rating to a “c” rating in a research report on Thursday, February 7th. Morgan Stanley set a $56.00 target price on shares of Kellogg and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Piper Jaffray Companies set a $69.00 target price on shares of Kellogg and gave the company a “buy” rating in a research note on Friday, February 8th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Kellogg in a research note on Friday, February 8th. Finally, Pivotal Research lowered shares of Kellogg from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $62.00 in a research note on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Kellogg has an average rating of “Hold” and a consensus price target of $62.98.

Kellogg stock traded down $0.71 during mid-day trading on Friday, hitting $52.09. The company’s stock had a trading volume of 2,681,649 shares, compared to its average volume of 2,587,774. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.41 and a current ratio of 0.68. The firm has a market cap of $18.58 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 3.12 and a beta of 0.56. Kellogg has a twelve month low of $51.85 and a twelve month high of $74.98.

Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.06. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the business posted $1.19 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that Kellogg will post 3.88 EPS for the current fiscal year.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $56.58, for a total value of $5,658,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 600,000 shares of company stock worth $33,851,000. 0.09% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Bruderman Asset Management LLC lifted its position in shares of 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 purchasing an additional 319 shares in the last quarter. Acima Private Wealth LLC acquired a new position in shares of Kellogg during the fourth quarter worth approximately $25,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Kellogg during the fourth quarter worth approximately $28,000. ERTS Wealth Advisors LLC acquired a new position in shares of Kellogg during the fourth quarter worth approximately $34,000. Finally, Capital Financial Planning LLC acquired a new position in shares of Kellogg during the fourth quarter worth approximately $34,000. 87.22% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Kellogg (NYSE:K)

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