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Kellogg (K) Gets a Hold Rating from Evercore ISI

Evercore ISI analyst David Palmer maintained a Hold rating on Kellogg (KResearch Report) yesterday and set a price target of $72.00. The company’s shares closed last Friday at $72.73.

According to TipRanks.com, Palmer is a 4-star analyst with an average return of 6.6% and a 60.1% success rate. Palmer covers the Consumer Goods sector, focusing on stocks such as Mondelez International, BellRing Brands, and Conagra Brands.

Currently, the analyst consensus on Kellogg is a Hold with an average price target of $70.00, which is a -0.4% downside from current levels. In a report issued on April 24, Deutsche Bank also downgraded the stock to Hold with a $73.00 price target.

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Based on Kellogg’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.42 billion and net profit of $433 million. In comparison, last year the company earned revenue of $3.46 billion and had a net profit of $205 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of K in relation to earlier this year.

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Kellogg Co. engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. It markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Keebler, Cheez-It, Pringles, Murray, Austin and Famous Amos, to supermarkets in the U.S. It operates through the following seven segments: North America, Europe, Latin America, and AMEA. The North America segment includes U.S. Frozen, Kashi company, and RX businesses. The Europe segment consists of European countries. The Latin America segment comprises of Central America and Mexico. The AMEA segment consists of Africa, Middle East, Australia and other Asian and Pacific markets. The company was founded by Will Keith Kellogg in 1906 and is headquartered in Battle Creek, MI.

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