The Kellogg Co. (K) PT Set at $77.00 by Credit Suisse Group AG

The Kellogg Co. (K) PT Set at $77.00 by Credit Suisse Group AG

Kellogg Co. (NYSE:K) has been assigned a $77.00 target price by investment analysts at Credit Suisse Group AG in a research report issued to clients and investors on Tuesday. The brokerage currently has a “hold” rating on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 6.97% from the stock’s current price.

Separately, Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a research report on Thursday, January 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $81.36.

Kellogg (NYSE:K) opened at 71.98 on Tuesday. The stock’s 50 day moving average is $72.77 and its 200-day moving average is $77.37. Kellogg has a 1-year low of $69.07 and a 1-year high of $87.16. The firm has a market cap of $25.26 billion, a P/E ratio of 36.23 and a beta of 0.50.

Kellogg (NYSE:K) last released its earnings results on Tuesday, November 1st. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $878.20 million. Kellogg had a return on equity of 61.36% and a net margin of 5.41%. Kellogg’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Analysts forecast that Kellogg will post $3.68 EPS for the current year.

In related news, insider Paul T. Norman sold 5,420 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $74.89, for a total value of $405,903.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary H. Pilnick sold 5,036 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $74.88, for a total value of $377,095.68. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Country Trust Bank increased its position in shares of Kellogg by 12.9% in the third quarter. Country Trust Bank now owns 1,312 shares of the company’s stock valued at $102,000 after buying an additional 150 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its position in shares of Kellogg by 10.6% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 1,570 shares of the company’s stock valued at $122,000 after buying an additional 150 shares in the last quarter. Washington Trust Bank increased its position in shares of Kellogg by 1.9% in the third quarter. Washington Trust Bank now owns 1,799 shares of the company’s stock valued at $139,000 after buying an additional 34 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Kellogg by 0.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,204 shares of the company’s stock valued at $171,000 after buying an additional 15 shares in the last quarter. Finally, Enterprise Financial Services Corp increased its position in shares of Kellogg by 415.9% in the second quarter. Enterprise Financial Services Corp now owns 2,461 shares of the company’s stock valued at $201,000 after buying an additional 1,984 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

About Kellogg

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.

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