In yesterday’s Wall Street session, Kellogg Company (NYSE:K) shares traded at $61.02, down -1.12% from the previous session.
18 analysts cover Kellogg Company (NYSE:K), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $82.00 and a low of $64.00, we find $71.00. Given the previous closing price of $61.71, this indicates a potential upside of 15.05 percent. K stock price is now -6.53% away from the 50-day moving average and -10.05% away from the 200-day moving average. The market capitalization of the company currently stands at $20.75B.
The stock has received a hold rating from 14 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $71.61 as their price target over the next twelve months.
With the price target enhanced from $78 to $83, Goldman Upgraded its rating from Neutral to Buy for Kellogg Company (NYSE: K).
In other news, KELLOGG W K FOUNDATION TRUST, 10% Owner sold 100,000 shares of the company’s stock on Aug 21. The stock was sold for $6,109,550 at an average price of $61.10. Upon completion of the transaction, the 10% Owner now directly owns 54,331,838 shares in the company, valued at $3.32 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, 10% Owner KELLOGG W K FOUNDATION TRUST sold 100,000 shares of the business’s stock. A total of $6,378,120 was realized by selling the stock at an average price of $63.78. This leaves the insider owning 54,431,838 shares of the company worth $3.32 billion. Insiders disposed of 2,651,557 shares of company stock worth roughly $161.8 million over the past 1 year. A total of 16.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in K stock. A new stake in Kellogg Company shares was purchased by TREXQUANT INVESTMENT LP during the first quarter worth $11,763,000. HRT FINANCIAL LP invested $10,517,000 in shares of K during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Kellogg Company valued at approximately $8,472,000. MN SERVICES VERMOGENSBEHEER B.V. acquired a new stake in K for approximately $7,963,000. JET CAPITAL INVESTORS L P purchased a new stake in K valued at around $7,628,000 in the second quarter. In total, there are 1,308 active investors with 85.60% ownership of the company’s stock.
On Thursday morning Kellogg Company (NYSE: K) stock kicked off with the opening price of $61.28. During the past 12 months, Kellogg Company has had a low of $60.53 and a high of $77.17. As of last week, the company has a debt-to-equity ratio of 1.70, a current ratio of 0.70, and a quick ratio of 0.40. According to the stock market information, the enterprise value for the company is $28.15B, which is based on a 24.24 price-to-earnings ratio, a 8.35 price-to-earnings-growth ratio, and a beta of 0.42. The fifty day moving average price for K is $65.28 and a two-hundred day moving average price translates $67.84 for the stock.
The latest earnings results from Kellogg Company (NYSE: K) was released for Jun, 2023. According to the Packaged Foods Company, earnings per share came in at $1.25, beating analysts’ expectations of $1.11 by 0.14. This compares to $0.95 EPS in the same period last year. The net profit margin was 5.50% and return on equity was 21.40% for K. The company reported revenue of $4.04 billion for the quarter, compared to $3.86 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.58 percent. For the current quarter, analysts expect K to generate $4.04B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/15/2023. Investors who held shares on 09/01/2023 were paid a $0.60 dividend. On an annualized basis, this represents a $2.40 dividend and a 3.93% percent yield. There was an ex-dividend date of 08/31/2023 for this dividend. In terms of dividend payout ratio, K is presently at 93.00%.
Kellogg Company(K) Company Profile
Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles. The company offers its products under the Kellogg’s, Cheez-It, Pringles, Austin, Parati, RXBAR, Kashi, Bear Naked, Eggo, Morningstar Farms, Choco Krispies, Crunchy Nut, Nutri-Grain, Special K, Squares, Zucaritas, Sucrilhos, Pop-Tarts, K-Time, Sunibrite, Split Stix, Be Natural, LCMs, Coco Pops, Frosties, Krave, Rice Krispies Treats, Kashi Go, Crunchy Nut, Rice Krispies Squares, Incogmeato, Veggitizers, and Gardenburger brand names. It sells its products to retailers through direct sales forces, as well as brokers and distributors. Kellogg Company was founded in 1906 and is headquartered in Battle Creek, Michigan.
