Brokerage firm JP Morgan Maintains its rating on Kellogg Company(NYSE:K). In a research note issued to the investors, the brokerage major Raises the price-target to $87.00 per share. The shares have been rated Neutral. The rating by JP Morgan was issued on Aug 5, 2016.
In a different note, On Jul 29, 2016, Deutsche Bank said it Maintains its rating on Kellogg Company. In the research note, the firm Raises the price-target to $74.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 21, 2016, Credit Suisse said it Maintains its rating on Kellogg Company. In the research note, the firm Raises the price-target to $86.00 per share. The shares have been rated ‘Outperform’ by the firm.
Kellogg Company (K) made into the market gainers list on Wednesdays trading session with the shares advancing 0.15% or 0.12 points. Due to strong positive momentum, the stock ended at $82.57, which is also near the day’s high of $83.29. The stock began the session at $82.75 and the volume stood at 20,67,328 shares. The 52-week high of the shares is $87.16 and the 52 week low is $63.52. The company has a current market capitalization of $28,921 M and it has 35,02,59,030 shares in outstanding.
Kellogg Company has also declared a cash dividend of $0.5200 on Jul 29, 2016. The shares will quote ex-dividend on Aug 30, 2016 and the record date has been fixed on Sep 1, 2016. The dividend payable date has been fixed on Sep 15, 2016.
Kellogg Company(K) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.26B. Analysts had an estimated revenue of $3.37B. Earnings per share were $0.91. Analysts had estimated an EPS of $0.91.
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 Companys 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 Companys cereal products are generally marketed under the Kelloggs 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 Kelloggs 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.