Credit Suisse Maintains Kellogg Company to Outperform with Price Target $94.00

Brokerage firm Credit Suisse Maintains its rating on Kellogg Company(NYSE:K). In a research note issued to the investors, the brokerage major Raises the price-target to $94.00 per share. The shares have been rated Outperform. The rating by Credit Suisse was issued on Jul 21, 2016.

Kellogg Company (K) shares turned negative on Wednesdays trading session with the shares closing down -4.72 points or -5.43% at a volume of 83,05,049. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $87. The peak price level was also seen at $87 while the days lowest was $82.19. Finally the shares closed at $82.26. The 52-week high of the shares is $87.16 while the 52-week low is $63.52. According to the latest information available, the market cap of the company is $28,795 M.

Kellogg Company(K) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $3.38B. Analysts had an estimated revenue of $3.47B. Earnings per share were $0.97. Analysts had estimated an EPS of $0.94.

Several Insider Transactions has been reported to the SEC. On May 16, 2016, Ronald L Dissinger (Chief Financial Officer) sold 50,000 shares at $77.02 per share price.Also, On May 16, 2016, James M Jenness (director) sold 4,170 shares at $77.45 per share price.On May 16, 2016, Alistair D Hirst (Senior Vice President) sold 9,830 shares at $77.21 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company’s cereal products are generally marketed under the Kellogg’s name and are sold to the grocery trade through direct sales forces for resale to consumers. The Company also markets cookies crackers crisps and other convenience foods under brands such as Kellogg’s Keebler Cheez-It Murray Austin and Famous Amos to supermarkets in the United States through a direct store-door (DSD) delivery system although other distribution methods are also used. The Company uses broker and distributor arrangements for certain products. It also uses similar arrangements in less-developed market areas or in those market areas outside of its focus.

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