GMP Securities reaffirmed their buy rating on shares of Kellogg (NYSE:K) in a research report released on Thursday morning, reports.

K has been the subject of a number of other reports. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a buy rating to a hold rating in a report on Tuesday, May 7th. Consumer Edge downgraded Kellogg from an equal weight rating to an underweight rating and set a $49.00 price objective for the company. in a report on Monday, June 24th. ValuEngine upgraded USINAS SIDERURG/S from a sell rating to a hold rating in a report on Wednesday, May 29th. Canaccord Genuity restated an average rating on shares of Kellogg in a report on Tuesday, June 25th. Finally, Morgan Stanley set a $56.00 price objective on Kellogg and gave the stock a hold rating in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $62.05.

Shares of Kellogg stock opened at $54.55 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.68 and a quick ratio of 0.41. Kellogg has a 1 year low of $51.34 and a 1 year high of $74.98. The firm has a market cap of $18.57 billion, a P/E ratio of 12.60, a P/E/G ratio of 3.14 and a beta of 0.63. The stock’s 50 day moving average is $55.06.

Kellogg (NYSE:K) last issued its quarterly earnings data 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 return on equity of 43.13% and a net margin of 8.59%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Kellogg will post 3.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.24 annualized dividend and a dividend yield of 4.11%. Kellogg’s payout ratio is 51.73%.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 600,000 shares of company stock worth $33,769,000 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in K. APG Asset Management N.V. raised its stake in Kellogg by 1,277.4% during the fourth quarter. APG Asset Management N.V. now owns 2,658,632 shares of the company’s stock worth $132,589,000 after acquiring an additional 2,465,620 shares during the period. Norges Bank acquired a new stake in shares of Kellogg in the fourth quarter valued at approximately $131,475,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of Kellogg by 121.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,361,686 shares of the company’s stock valued at $134,639,000 after purchasing an additional 1,296,445 shares during the period. Ceredex Value Advisors LLC increased its stake in shares of Kellogg by 37.1% in the first quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock valued at $163,488,000 after purchasing an additional 771,375 shares during the period. Finally, Beutel Goodman & Co Ltd. increased its stake in shares of Kellogg by 13.5% in the first quarter. Beutel Goodman & Co Ltd. now owns 3,894,578 shares of the company’s stock valued at $167,224,000 after purchasing an additional 462,398 shares during the period. Hedge funds and other institutional investors own 87.19% 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.

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Analyst Recommendations for Kellogg (NYSE:K)

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