In a report released yesterday, David Palmer from RBC Capital reiterated a Hold rating on Kellogg (K), with a price target of $67. The company’s shares closed yesterday at $58.69, close to its 52-week low of $56.40.
According to TipRanks.com, Palmer is a 5-star analyst with an average return of 8.5% and a 67.1% success rate. Palmer covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Hostess Brands Inc, and Hain Celestial.
The word on The Street in general, suggests a Hold analyst consensus rating for Kellogg with a $68.93 average price target.
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Based on Kellogg’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.47 billion and net profit of $380 million. In comparison, last year the company earned revenue of $3.27 billion and had a net profit of $297 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of K in relation to earlier this year.
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Kellogg Co. engages in the manufacturing, marketing, and distribution of cereal and convenience foods, including cookies, crackers, toaster pastries, cereal bars, frozen waffles, and meat alternatives. It operates through the following segments: U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific.
