Kellogg (K) Downgraded to “Sell” at ValuEngine

Kellogg (K) Downgraded to “Sell” at ValuEngine

ValuEngine downgraded shares of Kellogg (NYSE:K) from a hold rating to a sell rating in a report released on Sunday, ValuEngine reports.

K has been the subject of several other reports. TheStreet downgraded shares of Kellogg from a b- rating to a c rating in a research report on Thursday, February 7th. Morgan Stanley set a $56.00 target price on shares of Kellogg and gave the stock a hold rating in a research report on Tuesday, April 2nd. Piper Jaffray Companies set a $69.00 target price on shares of Kellogg and gave the stock a buy rating in a research report on Friday, February 8th. Credit Suisse Group reissued a neutral rating on shares of Kellogg in a research report on Friday, February 8th. Finally, Pivotal Research downgraded shares of Kellogg from a buy rating to a hold rating and decreased their target price for the stock from $90.00 to $62.00 in a research report on Friday, February 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $63.11.

Shares of K opened at $57.25 on Friday. Kellogg has a 52 week low of $53.14 and a 52 week high of $74.98. The company has a market cap of $19.42 billion, a P/E ratio of 13.22, a P/E/G ratio of 3.22 and a beta of 0.56. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 2.75.

Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.06. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Kellogg will post 3.89 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Friday, May 31st. Kellogg’s dividend payout ratio is 51.73%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 600,000 shares of company stock valued at $33,672,000 over the last three months. Insiders own 0.09% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of K. APG Asset Management N.V. boosted its holdings in shares of Kellogg by 1,277.4% during the 4th quarter. APG Asset Management N.V. now owns 2,658,632 shares of the company’s stock worth $132,589,000 after buying an additional 2,465,620 shares during the period. Norges Bank bought a new stake in shares of Kellogg during the 4th quarter worth $131,475,000. BlackRock Inc. boosted its holdings in shares of Kellogg by 9.0% during the 4th quarter. BlackRock Inc. now owns 26,334,804 shares of the company’s stock worth $1,501,346,000 after buying an additional 2,171,811 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of Kellogg by 327.2% during the 4th quarter. Ceredex Value Advisors LLC now owns 2,077,844 shares of the company’s stock worth $118,457,000 after buying an additional 1,591,469 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Kellogg by 5,672.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock worth $28,000 after buying an additional 1,541,399 shares during the period. 87.01% of the stock is owned by institutional investors and hedge funds.

About Kellogg

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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