Sanford C. Bernstein Initiates Coverage on Kellogg Company (K)

Investment analysts at Sanford C. Bernstein assumed coverage on shares of Kellogg Company (NYSE:K) in a report issued on Tuesday. The brokerage set an “underperform” rating on the stock.

Several other research firms have also commented on K. Zacks Investment Research raised Kellogg Company from a “sell” rating to a “hold” rating in a research report on Thursday, January 5th. Credit Suisse Group AG set a $77.00 price target on Kellogg Company and gave the stock a “hold” rating in a research report on Tuesday, January 17th. Royal Bank of Canada boosted their price target on Kellogg Company from $84.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, February 10th. Deutsche Bank AG initiated coverage on Kellogg Company in a research report on Wednesday, February 15th. They set a “hold” rating and a $79.00 price target on the stock. Finally, TheStreet lowered Kellogg Company from a “b” rating to a “c+” rating in a research report on Thursday, February 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $82.30.

Analyst Recommendations for Kellogg Company (NYSE:K)

Kellogg Company (NYSE:K) opened at 74.98 on Tuesday. The stock has a market capitalization of $26.33 billion, a price-to-earnings ratio of 38.26 and a beta of 0.53. Kellogg Company has a 52 week low of $70.74 and a 52 week high of $87.16. The firm has a 50-day moving average of $74.22 and a 200 day moving average of $74.70.

Kellogg Company (NYSE:K) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.07. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Kellogg Company had a return on equity of 66.33% and a net margin of 5.33%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. On average, analysts anticipate that Kellogg Company will post $3.94 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a dividend of $0.52 per share. The ex-dividend date was Monday, February 27th. This represents a $2.08 annualized dividend and a yield of 2.77%. Kellogg Company’s dividend payout ratio is presently 106.67%.

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A number of large investors have recently bought and sold shares of K. State Street Corp increased its stake in shares of Kellogg Company by 3.6% in the fourth quarter. State Street Corp now owns 11,379,721 shares of the company’s stock worth $838,785,000 after buying an additional 394,677 shares during the period. BlackRock Fund Advisors increased its stake in shares of Kellogg Company by 3.0% in the third quarter. BlackRock Fund Advisors now owns 6,146,524 shares of the company’s stock worth $476,171,000 after buying an additional 176,800 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Kellogg Company by 44.7% in the third quarter. Bank of New York Mellon Corp now owns 4,860,431 shares of the company’s stock worth $376,538,000 after buying an additional 1,501,425 shares during the period. Norges Bank purchased a new stake in shares of Kellogg Company during the fourth quarter worth $197,937,000. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Kellogg Company by 11.8% in the third quarter. TIAA CREF Investment Management LLC now owns 2,033,654 shares of the company’s stock worth $157,547,000 after buying an additional 214,951 shares during the period. Institutional investors own 81.55% of the company’s stock.

About Kellogg Company

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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