Investment House LLC Holds Position in Kellogg Co. (K)
Investment House LLC held its stake in Kellogg Co. (NYSE:K) during the second quarter, Holdings Channel reports. The institutional investor owned 5,775 shares of the company’s stock at the end of the second quarter. Investment House LLC’s holdings in Kellogg were worth $472,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. acquired a new stake in shares of Kellogg during the first quarter valued at approximately $115,000. Tobam acquired a new stake in shares of Kellogg during the first quarter valued at approximately $141,000. Fox Run Management L.L.C. acquired a new stake in shares of Kellogg during the second quarter valued at approximately $204,000. Stewart & Patten Co. LLC acquired a new stake in shares of Kellogg during the second quarter valued at approximately $212,000. Finally, Shufro Rose & Co. LLC raised its stake in shares of Kellogg by 3.6% in the first quarter. Shufro Rose & Co. LLC now owns 2,880 shares of the company’s stock valued at $220,000 after buying an additional 100 shares in the last quarter. Institutional investors own 81.75% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded up 0.82% on Thursday, reaching $78.22. 2,098,418 shares of the company were exchanged. The company has a market capitalization of $27.40 billion, a P/E ratio of 44.75 and a beta of 0.45. The stock has a 50 day moving average of $81.24 and a 200-day moving average of $78.58. Kellogg Co. has a 52-week low of $64.65 and a 52-week high of $87.16.
Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.91 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.91. Kellogg had a net margin of 4.71% and a return on equity of 56.33%. The firm earned $3.27 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Kellogg’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, analysts predict that Kellogg Co. will post $0.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.66%. This is a boost from Kellogg’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 30th. Kellogg’s dividend payout ratio is presently 119.54%.
Several equities analysts recently issued reports on the company. Citigroup Inc. cut their target price on Kellogg from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Deutsche Bank AG upped their target price on Kellogg from $74.00 to $78.00 and gave the company a “hold” rating in a research report on Friday, July 29th. JPMorgan Chase & Co. upped their target price on Kellogg from $73.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Royal Bank Of Canada upped their target price on Kellogg from $82.00 to $86.00 and gave the company a “sector perform” rating in a research report on Friday, August 5th. Finally, Morgan Stanley reissued a “hold” rating and issued a $79.00 target price on shares of Kellogg in a research report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Kellogg has a consensus rating of “Hold” and a consensus price target of $81.65.
In other news, insider Maria Fernanda Mejia sold 35,175 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $83.01, for a total value of $2,919,876.75. Following the completion of the sale, the insider now directly owns 35,111 shares of the company’s stock, valued at $2,914,564.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 250,000 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $76.98, for a total transaction of $19,245,000.00. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by insiders.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
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