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Kellogg, Wal-Mart: S&P Laggards

NEW YORK (TheStreet) - Kellogg (K) and Wal-Mart (WMT) were among the worst-performers in the S&P 500 on Monday.

The S&P 500 dropped 11.59 points, or 0.84%, to 1,366.94 on Monday.

Shares of Kellogg fell 6.09% to $50.70. The food products company lowered its full-year 2012 earnings guidance based on a worse-than-expected first quarter.

The company expects internal net sales to rise between 2-3% in 2012; previously Kellogg was looking for 4-5% growth.

Kellogg shares trade at an estimated price-to-earnings ratio for next year of 13.42X; the average for food products companies is 16.81X. For comparison, General Mills (GIS) has a higher forward P/E of 14X.

Fourteen of the 22 analysts who cover Kellogg rate it at hold. Seven analysts give the stock a buy rating and one rates it at sell.

TheStreet Ratings gives Kellogg an A- grade with a buy rating and $62.14 price target. The stock has risen 13 cents, or 0.26%, year to date.

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