Kellogg (NYSE:K) PT Raised to $77.00 at Credit Suisse Group

Kellogg (NYSE:K) had its price objective raised by research analysts at Credit Suisse Group from $76.00 to $77.00 in a research note issued on Friday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would indicate a potential upside of 11.61% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Kellogg from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Zacks Investment Research upgraded shares of Kellogg from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday. ValuEngine lowered shares of Kellogg from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Seaport Global Securities started coverage on shares of Kellogg in a research note on Tuesday, July 28th. They issued a “buy” rating and a $76.00 target price on the stock. Finally, Consumer Edge upgraded shares of Kellogg from an “underweight” rating to an “equal weight” rating and set a $65.00 price target on the stock in a research report on Friday, May 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $70.24.

K stock traded down $1.60 during midday trading on Friday, reaching $68.99. The company had a trading volume of 5,541,573 shares, compared to its average volume of 1,810,313. Kellogg has a 1 year low of $52.66 and a 1 year high of $72.88. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $23.64 billion, a P/E ratio of 21.76, a PEG ratio of 4.55 and a beta of 0.57. The company has a 50 day moving average of $66.92 and a two-hundred day moving average of $65.16.

Kellogg (NYSE:K) last released its earnings results on Thursday, July 30th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Kellogg had a net margin of 8.09% and a return on equity of 43.36%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Kellogg will post 3.93 earnings per share for the current year.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $66.72, for a total transaction of $6,672,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 400,000 shares of company stock worth $26,766,000 over the last ninety days. Insiders own 1.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in K. BBVA USA Bancshares Inc. grew its stake in Kellogg by 30.8% during the second quarter. BBVA USA Bancshares Inc. now owns 21,173 shares of the company’s stock worth $1,399,000 after buying an additional 4,986 shares in the last quarter. Vident Investment Advisory LLC grew its position in Kellogg by 39.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 22,119 shares of the company’s stock valued at $1,461,000 after purchasing an additional 6,312 shares during the period. State Street Corp grew its position in Kellogg by 0.8% in the 1st quarter. State Street Corp now owns 13,680,630 shares of the company’s stock valued at $820,701,000 after purchasing an additional 113,082 shares during the period. Mackenzie Financial Corp grew its position in Kellogg by 3.2% in the 1st quarter. Mackenzie Financial Corp now owns 19,076 shares of the company’s stock valued at $1,144,000 after purchasing an additional 590 shares during the period. Finally, Cascade Investment Advisors Inc. lifted its stake in Kellogg by 8,672.0% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 8,772 shares of the company’s stock valued at $1,310,000 after acquiring an additional 8,672 shares in the last quarter. Institutional investors and hedge funds own 84.43% 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.

Recommended Story: What are the benefits of buying treasury bonds?

Analyst Recommendations for Kellogg (NYSE:K)

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