News headlines about Kellogg (NYSE:K) have been trending somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Kellogg earned a media sentiment score of 0.14 on Accern’s scale. Accern also gave media coverage about the company an impact score of 46.8048547132815 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Memorial fire pit at Kellogg Lake vandalized again – Carthage Press (carthagepress.com)
- Michigan basketball ‘can win it all,’ Clark Kellogg says – Landof10.com (landof10.com)
- Sour taste: Kellogg and PepsiCo’s Frito-Lays sued for alleged false advertising – BakeryAndSnacks.com (bakeryandsnacks.com)
- Kellogg (K) Gains From Cost-Saving Initiatives, Sales Weak – Nasdaq (nasdaq.com)
- Kellogg’s snack-bar startup sees peanut butter as growth source … – Crain’s Detroit Business (crainsdetroit.com)
K has been the subject of several recent research reports. Citigroup boosted their price target on Kellogg from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Credit Suisse Group upped their target price on Kellogg from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Piper Jaffray Companies upgraded Kellogg from a “neutral” rating to an “overweight” rating and set a $80.00 price target for the company in a report on Wednesday, February 28th. Argus upgraded Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Wednesday, November 22nd. Finally, Susquehanna Bancshares set a $69.00 price target on Kellogg and gave the stock a “hold” rating in a report on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $73.69.
Kellogg (K) traded up $0.61 during trading on Friday, reaching $70.25. The company had a trading volume of 2,907,826 shares, compared to its average volume of 2,609,048. The company has a market capitalization of $24,288.87, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.16 and a beta of 0.48. Kellogg has a fifty-two week low of $58.76 and a fifty-two week high of $75.31. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.41 and a current ratio of 0.68.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Kellogg had a return on equity of 70.35% and a net margin of 9.82%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. research analysts predict that Kellogg will post 4.45 earnings per share for the current fiscal year.
Kellogg announced that its board has approved a share buyback program on Friday, December 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Monday, March 5th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, March 2nd. Kellogg’s dividend payout ratio is currently 59.67%.
In related news, insider Paul T. Norman sold 167,497 shares of Kellogg stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.86, for a total value of $11,533,843.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of Kellogg stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $69.47, for a total value of $14,241,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 623,763 shares of company stock worth $42,787,777. 1.30% of the stock is currently owned by insiders.
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Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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