Kellogg (NYSE:K) Reaches New 1-Year High at $66.87

Kellogg (NYSE:K) reached a new 52-week high during trading on Tuesday . The stock traded as high as $66.87 and last traded at $66.78, with a volume of 248472 shares. The stock had previously closed at $66.54.

Several research analysts have recently commented on K shares. Credit Suisse Group set a $60.00 price target on Kellogg and gave the stock a “hold” rating in a report on Tuesday, September 10th. TheStreet raised Kellogg from a “c+” rating to a “b-” rating in a research report on Monday, August 12th. Barclays downgraded Kellogg to an “equal weight” rating in a research report on Tuesday, October 15th. Evercore ISI started coverage on Kellogg in a research report on Thursday, October 24th. They set an “in-line” rating and a $67.00 price objective for the company. Finally, Edward Jones raised Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.20.

The business has a 50-day moving average of $64.14 and a 200-day moving average of $60.69. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.52 and a current ratio of 0.80. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 2.84 and a beta of 0.52.

Kellogg (NYSE:K) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.12. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.35 billion. Kellogg had a return on equity of 42.47% and a net margin of 5.35%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. Equities analysts predict that Kellogg will post 3.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Friday, November 29th. Kellogg’s dividend payout ratio is currently 52.66%.

In other Kellogg news, SVP Alistair D. Hirst sold 2,500 shares of Kellogg stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $63.88, for a total value of $159,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $65.19, for a total value of $6,519,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,291 shares of company stock valued at $33,353,106. 0.09% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its stake in shares of Kellogg by 1.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,004 shares of the company’s stock valued at $857,000 after buying an additional 271 shares during the period. First Trust Advisors LP lifted its stake in Kellogg by 22.4% during the second quarter. First Trust Advisors LP now owns 977,413 shares of the company’s stock worth $52,360,000 after purchasing an additional 178,902 shares during the last quarter. Alpha Windward LLC lifted its stake in Kellogg by 7.1% during the second quarter. Alpha Windward LLC now owns 2,799 shares of the company’s stock worth $164,000 after purchasing an additional 185 shares during the last quarter. KBC Group NV lifted its stake in Kellogg by 24.3% during the second quarter. KBC Group NV now owns 662,832 shares of the company’s stock worth $35,508,000 after purchasing an additional 129,497 shares during the last quarter. Finally, AGF Investments LLC lifted its stake in Kellogg by 39.4% during the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock worth $44,000 after purchasing an additional 234 shares during the last quarter. 86.98% of the stock is owned by institutional investors.

Kellogg Company Profile (NYSE:K)

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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