Kellogg (K) Hits New 52-Week Low After Analyst Downgrade

Kellogg (NYSE:K) reached a new 52-week low during mid-day trading on Monday after TheStreet downgraded the stock from a b- rating to a c rating. The company traded as low as $54.14 and last traded at $54.88, with a volume of 3561535 shares trading hands. The stock had previously closed at $55.36.

A number of other equities research analysts have also recently weighed in on the stock. Buckingham Research cut their price objective on shares of Kellogg from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Royal Bank of Canada cut their target price on Kellogg to $72.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. Credit Suisse Group decreased their price objective on Kellogg from $70.00 to $66.00 and set a “hold” rating for the company in a report on Wednesday, November 14th. Piper Jaffray Companies set a $79.00 price objective on Kellogg and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Finally, Zacks Investment Research reiterated a “sell” rating on shares of Kellogg in a research note on Tuesday, November 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Kellogg currently has a consensus rating of “Hold” and a consensus price target of $65.15.

In other Kellogg news, Chairman Steven A. Cahillane bought 17,825 shares of Kellogg stock in a transaction dated Monday, November 19th. The shares were purchased at an average cost of $61.63 per share, for a total transaction of $1,098,554.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $58.36, for a total transaction of $5,836,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 580,000 shares of company stock valued at $34,626,200. 1.40% of the stock is currently owned by company insiders.



Hedge funds have recently modified their holdings of the business. Sage Capital Advisors llc lifted its position in shares of Kellogg by 7.8% in the 4th quarter. Sage Capital Advisors llc now owns 71,344 shares of the company’s stock worth $4,067,000 after purchasing an additional 5,174 shares during the period. Stephens Inc. AR lifted its position in Kellogg by 54.4% during the fourth quarter. Stephens Inc. AR now owns 10,855 shares of the company’s stock valued at $619,000 after acquiring an additional 3,823 shares during the last quarter. Tredje AP fonden lifted its position in Kellogg by 35.3% during the fourth quarter. Tredje AP fonden now owns 21,601 shares of the company’s stock valued at $1,231,000 after acquiring an additional 5,633 shares during the last quarter. Strategic Investment Advisors MI purchased a new stake in Kellogg during the fourth quarter valued at approximately $287,000. Finally, Highstreet Asset Management Inc. purchased a new stake in Kellogg during the fourth quarter valued at approximately $814,000. Institutional investors and hedge funds own 87.01% of the company’s stock.

The stock has a market cap of $19.21 billion, a P/E ratio of 12.67, a P/E/G ratio of 2.21 and a beta of 0.58. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.40 and a current ratio of 0.70.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, analysts anticipate that Kellogg will post 4.06 earnings per share for the current fiscal year.

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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. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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