Piper Sandler took its Kellogg [K] rating to the equivalent of Neutral from Overweight, and the price target to $66, in a research note dated 2021-01-06. That figure represents around a 6.78% premium from where the company’s shares closed on Tuesday. Some new analysts also started their coverage, with Citigroup’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in late August. Meanwhile, Goldman had lowered its rating on K to “Neutral” from the earlier “Buy”, in a research note produced for clients July 31, 2020. In addition, Seaport Global Securities launched coverage on July 28, 2020. The research firm rated K “a Buy”.
Is Kellogg Company [NYSE:K] a Good Buy Right Now?
It should be noted that K technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Sell. The average signal changed from 72% Sell in the last week and compares with 88% Sell in the past month. Data from Kellogg Company’s Trend Spotter indicated that the signals were Weakening. The stock current average is 2.12 million shares in the past 20 days and the short term average signal indicates a 100% Sell. In the last 50 days, the average trading volume was 2.07 million shares while the medium term average advocated for 100% Sell. The average long-term signal stands at 100% Sell and the 100-day average volume stands at 1.99 million shares.
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K Price Performance
On Wall Street, Kellogg Company [NYSE:K] finished Tuesday’s session up 0.57% at $61.80. The stock went up to $61.97 at the same session while its lowest single day price was $61.26. In the last five days, it saw a fall of about -0.87%, Kellogg Company shares dropped by almost -0.69% since the beginning of the year. However, the share price has dropped to as low as -15.20% below its one year high. On 01/04/21, the company shares recorded $62.21, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $60.95. The company’s shares have declined by -9.04% in the past year. The 50-day SMA achieved is $63.31 while the 200-day SMA is $65.05. Volume dropped to 1.63 million from 3.16 million in the previous session.
Kellogg Company [K] Valuation Measures
Notably, Kellogg Company [K] stock can be classified as a good candidate in the listing of underestimated low-priced Packaged Foods companies to purchase soonest possible with the prevailing 12-month PE ratio of 17.41. The measure means the stock is exchanging at a discount as compared to the 20.08x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.55 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.06 which means K serve an attractive investment opportunity compared to its competitors.
K Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 61.38 level, and in case of violation of this particular level, it will cause more drop to 60.97 level. On the upper level, 62.39 is still the key resistance. The stock may increase to the subsequent resistance at 62.09. The Relative Strength Index (RSI) pinned on the 14-day chart is 45.65, implying a neutral technical stance while the MACD stands at 0.04, meaning price will decrease in the next trading period. Percent R indicator moved to 52.46%, implying low price movement. Stochastic %K at 48.63% suggest selling the stock.
What is the short interest in Kellogg Company?
Short interest in the Kellogg Company stock has plunged, decreasing by -1.08 million shares to total 14.0 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 12.92 million, data from Yahoo Finance shows. The increase of 7.71% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 5.08% of the overall float for the stock.
Kellogg Company’s Biggest Shareholders: Who Owns Kellogg Company [K]?
Filings by Bank of New York Mellon Trust Co showed that the firm now holds a total of 60,465,170 shares or roughly 17.59% of the outstanding K shares. This means their shares have reduced by -83,334 from the 60,465,170 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $1,766,887,879. Details in the latest 13F filings reveal that KeyBank, NA disposed off their -0.31% stake valued at $1,508,517,835 while BlackRock Fund Advisors added theirs at $1,068,011,833. During the last quarter, KeyBank, NA liquidated -72,286 of its shares in Kellogg Company while BlackRock Fund Advisors bought 244,593 shares. The Capital Research & Management Co’s holdings currently number 15,849,274 shares at $979485133.2. According to the firm’s last 13F report, Wellington Management Co. LLP shares in the company at filing stood at 15,044,496 shares, roughly $961,493,739.
K Earnings Forecast For The Current Quarter
Kellogg Company [K] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $3.46B and an earnings per share of $0.88 for Dec 2020. Looking further ahead, the company is expected to report revenue of $3.35B at an EPS of $0.98 for Mar 2021. The estimates represent upside of -1.70% and -0.12% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
K Earnings Estimates For The Current Year
For the financial year, Kellogg Company [NYSE:K] is expected to bring in revenue of $13.78B. The returns are nearly $200.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 4, higher than that of FY19 by $0.06. Estimates put this year’s earnings growth at 1.50%, -0.20% for the next, and at an annual 1.86% over the next 5-year period. As for sales, forecasts are for an increase of 1.50% in the current fiscal year and a further -1.70% over the following year.