Citigroup slashes price target on Kellogg Company [K] – find out why.

Kellogg Company [NYSE: K] jumped around 0.44 points on Tuesday, while shares priced at $64.38 at the close of the session, up 0.69%. The company report on October 29, 2020 that Kellogg Company Reports 2020 Third Quarter Results.

Kellogg Company (NYSE: K) today published its 2020 third quarter earnings results in documents posted to the company website at https://investor.kelloggs.com/QuarterlyResults. Documents immediately available include: the financial press release and tables, GAAP reconciliations, and presentation slides.

A Current Report on Form 8-K was filed with the U.S. Securities and Exchange Commission and is available on its website at www.sec.gov.

Kellogg Company stock is now -6.91% down from its year-to-date (YTD) trading value. K Stock saw the intraday high of $65.49 and lowest of $64.08 per share. The company’s 52-week high price is 72.88, which means current price is +22.25% above from all time high which was touched on 07/30/20.

Compared to the average trading volume of 1.87M shares, K reached a trading volume of 1568332 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Kellogg Company [K]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for K shares is $71.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on K stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Kellogg Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 28, 2020. While these analysts kept the previous recommendation, Goldman raised their target price from $71 to $73. The new note on the price target was released on July 31, 2020, representing the official price target for Kellogg Company stock. Previously, the target price had yet another raise to $76, while Seaport Global Securities analysts kept a Buy rating on K stock.

The Average True Range (ATR) for Kellogg Company is set at 1.20, with the Price to Sales ratio for K stock in the period of the last 12 months amounting to 1.64. The Price to Book ratio for the last quarter was 7.69, with the Price to Cash per share for the same quarter was set at 3.63. Price to Free Cash Flow for K in the course of the last twelve months was 126.54 with Quick ratio for the last quarter at 0.60.

How has K stock performed recently?

Kellogg Company [K] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.85. With this latest performance, K shares dropped by -1.63% in over the last four-week period, additionally plugging by 0.45% over the last 6 months – not to mention a rise of 1.29% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for K stock in for the last two-week period is set at 41.93, with the RSI for the last a single of trading hit 44.60, and the three-weeks RSI is set at 44.96 for Kellogg Company [K]. The present Moving Average for the last 50 days of trading for this stock 65.81, while it was recorded at 63.56 for the last single week of trading, and 65.51 for the last 200 days.

Kellogg Company [K]: Deeper insight into the fundamentals

Kellogg Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.

Earnings analysis for Kellogg Company [K]

With the latest financial reports released by the company, Kellogg Company posted 0.91/share EPS, while the average EPS was predicted by analysts to be reported at 0.85/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for K. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Kellogg Company go to 1.78%.

Insider trade positions for Kellogg Company [K]

There are presently around $18,962 million, or 88.70% of K stock, in the hands of institutional investors. The top three institutional holders of K stocks are: KELLOGG W K FOUNDATION TRUST with ownership of 61,531,838, which is approximately -0.966% of the company’s market cap and around 0.69% of the total institutional ownership; VANGUARD GROUP INC, holding 25,326,631 shares of the stock with an approximate value of $1.63 billion in K stocks shares; and KEYBANK NATIONAL ASSOCIATION/OH, currently with $1.52 billion in K stock with ownership of nearly -0.305% of the company’s market capitalization.

340 institutional holders increased their position in Kellogg Company [NYSE:K] by around 25,245,890 shares. Additionally, 327 investors decreased positions by around 23,105,108 shares, while 140 investors held positions by with 246,187,020 shares. The mentioned changes placed institutional holdings at 294,538,018 shares, according to the latest SEC report filing. K stock had 65 new institutional investments in for a total of 858,795 shares, while 58 institutional investors sold positions of 1,193,070 shares during the same period.

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