5 Undervalued Dividend Stocks to Buy in 2022

4. Kellogg Company (NYSE:K)

Dividend Yield as of April 1: 3.62%

P/E Ratio as of April 1: 14.81

Number of Hedge Fund Holders: 31

Kellogg Company (NYSE:K) is a Michigan-based multinational company that manufactures and markets convenience foods. The company sells its products under brands such as Kellogg’s, Pringles, Crunchy Nut, Nutri-Grain, Special K, Pop-Tarts, Coco Pops, Frosties, and more. 

On February 10, Kellogg Company (NYSE:K) reported earnings for the fourth quarter of 2021. The company announced an EPS of $0.83, topping market estimates by $0.04. Kellogg Company (NYSE:K)’s Q4 revenue amounted to $3.42 billion, outperforming consensus by $28.64 million. 

UBS analyst Cody Ross on March 30 initiated coverage of Kellogg Company (NYSE:K) with a Buy rating and a $73 price target as part of a broader research note on Packaged Goods. The analyst observed that consumers are presently “the healthiest they have been in some time”, with record high net-worth, increasing salaries, and strong balance sheets. The analyst further noted that Kellogg Company (NYSE:K) exiting its Snacks segment has enabled it to stabilize its position in developed markets.

According to Insider Monkey’s Q4 database, 31 hedge funds were bullish on Kellogg Company (NYSE:K), up from 22 funds in the prior quarter. Renaissance Technologies is the leading stakeholder of the company, owning 2.1 million shares worth $139.2 million.