Kellogg Company (K) Shares Up 6.2% After Earnings Beat


Finally, Round Table Services LLC acquired a new position in shares of Kellogg during the second quarter worth $200,000.

Several institutional investors and hedge funds have recently added to or reduced their stakes in K. OppenheimerFunds Inc. increased its position in shares of Kellogg by 3.3% in the 1st quarter. Exane Derivatives now owns 2,300 shares of the company's stock worth $160,000 after acquiring an additional 448 shares in the last quarter. FMR LLC increased its holdings in Kellogg by 61.0% during the 1st quarter. Washington Trust Bank now owns 1,780 shares of the company's stock worth $124,000 after acquiring an additional 15 shares in the last quarter. Alpha Windward LLC lifted its stake in Kellogg by 0.4% during the 2nd quarter. FMR LLC now owns 1,104,803 shares of the company's stock worth $80,220,000 after purchasing an additional 418,646 shares in the last quarter.

Just yesterday Kellogg (NYSE:K) traded 6.22% higher at $62.53.

The Corn Flakes maker's shares were up 4.5 percent in pre-market trade. The firm has a 50 day moving average of $75.78 and a 200-day moving average of $78.43.

The company's P/E ratio is 28.71 and market capitalization is 21.88B.

Kellogg (NYSE:K) last announced its earnings results on Tuesday, October 31st.

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The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.11.

On average, analysts polled by Thomson Reuters expected earnings of $0.94 per share on sales of $3.21 billion for the quarter.

Kellogg's net income rose to $297 million, or 85 cents per share, in the third quarter ended September 30, from $292 million, or 82 cents per share, a year earlier. Kellogg's quarterly revenue was up.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. On average, equities research analysts anticipate that Kellogg will post $3.97 earnings per share for the current fiscal year. Investors of record on Friday, December 1st will be issued a $0.54 dividend. 2 brokerages rating the stock a strong buy, 3 brokerages rating the stock a buy, 14 brokerages rating the stock a hold, 2 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell with a average stock price target of $77.59. The ex-dividend date is as of Wednesday the 30th of August 2017. Kellogg's payout ratio is 97.74%.

Other research analysts also recently issued reports about the company. Zacks Investment Research lowered shares of Kellogg from a "buy" rating to a "hold" rating in a report on Friday, August 4th.

Kellogg Company (NYSE:K) has been assigned a consensus rating of "Hold" from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Morgan Stanley reduced their price objective on shares of Kellogg from $70.00 to $66.00 and set an "equal weight" rating for the company in a research note on Friday, October 13th. Kellogg has a consensus rating of "Hold" and a consensus price target of $81.75. The shares were sold at an average price of $74.88, for a total value of $437,523.84. Company insiders own 8.80% of the company's stock.

Kellogg bought Kashi, which makes whole grain cereals and other plant-based foods, in 2000 to cash in on the fast-growing natural and organic foods market. The Company's products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.