In a report released yesterday, Robert Moskow from Credit Suisse reiterated a Hold rating on Kellogg (K – Research Report), with a price target of $60. The company’s shares closed last Monday at $62.93.
According to TipRanks.com, Moskow is a 3-star analyst with an average return of 2.7% and a 49.3% success rate. Moskow covers the Consumer Goods sector, focusing on stocks such as Archer Daniels Midland, Conagra Brands Inc, and Nomad Foods Ltd.
The word on The Street in general, suggests a Hold analyst consensus rating for Kellogg with a $65.42 average price target.
Based on Kellogg’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.46 billion and net profit of $286 million. In comparison, last year the company earned revenue of $3.36 billion and had a net profit of $596 million.
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Kellogg Co. engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. Its 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: U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific. The U.S. Snacks segment offers cookies, crackers, savory snacks, wholesome snacks and fruit-flavored snacks. The U.S. Morning Foods segment includes cereal and toaster pastries. The U.S. Specialty Channels engages in selling kellogg products to channels such as food service, convenience stores, vending and others. The North America Other 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 Asia Pacific segment composes of Sub-Saharan Africa, Australia, and Asian and Pacific markets. The company was founded by Will Keith Kellogg in 1906 and is headquartered in Battle Creek, MI.