Brokerage firm Bernstein Downgrades its rating on Kellogg Company(K). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by the stock financial advisor at Bernstein was issued on Mar 21, 2017 in a research report to their Investors and Clients.
In a different note, Deutsche Bank said it Initiates Coverage On Kellogg Company, according to a research note issued on Feb 15, 2017. The shares have been rated ‘Hold’ by the firm.
Kellogg Company (K) shares turned negative on Fridays trading session with the shares closing down -0.11 points or -0.15% at a volume of 29,32,976. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $73.46. The peak price level was also seen at $73.46 while the days lowest was $72.75. Finally the shares closed at $73. The 52-week high of the shares is $87.16 while the 52-week low is $70.735. According to the latest information available, the market cap of the company is $25,554 M.
Kellogg Company(K) last announced its earnings results on Feb 9, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $3.093B. Analysts had an estimated revenue of $236.880M. Earnings per share were $0.92. Analysts had estimated an EPS of $1.42.
Several Insider Transactions has been reported to the SEC. On Feb 15, 2017, Ronald L Dissinger (Chief Financial Officer) sold 7,203 shares at $75.63 per share price.Also, On Nov 10, 2016, John A Bryant (director officer 10% owner (Chairman, Pres. & CEO) sold 93,221 shares at $77.07 per share price.On Nov 3, 2016, Paul T Norman (Senior Vice President) sold 5,420 shares at $74.89 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.