Kellogg Co. (K) Position Held by Portland Global Advisors LLC
Portland Global Advisors LLC continued to hold its stake in shares of Kellogg Co. (NYSE:K) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,558 shares of the company’s stock at the end of the second quarter. Portland Global Advisors LLC’s holdings in Kellogg were worth $535,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Trust Co. of Toledo NA OH boosted its stake in shares of Kellogg by 0.5% in the second quarter. Trust Co. of Toledo NA OH now owns 5,869 shares of the company’s stock valued at $479,000 after buying an additional 28 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in Kellogg by 0.8% in the first quarter. Canandaigua National Bank & Trust Co. now owns 10,556 shares of the company’s stock valued at $808,000 after buying an additional 81 shares during the last quarter. Shufro Rose & Co. LLC boosted its stake in 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 during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Kellogg by 0.6% in the second quarter. Cullen Frost Bankers Inc. now owns 21,895 shares of the company’s stock valued at $1,788,000 after buying an additional 127 shares during the last quarter. Finally, Advisor Partners LLC boosted its stake in Kellogg by 5.8% in the first quarter. Advisor Partners LLC now owns 3,022 shares of the company’s stock valued at $231,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 81.75% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded up 0.82% during mid-day trading on Thursday, reaching $78.22. The company’s stock had a trading volume of 2,098,418 shares. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 44.75 and a beta of 0.45. The company’s 50-day moving average is $81.32 and its 200 day moving average is $78.58. Kellogg Co. has a 12 month low of $64.65 and a 12 month high of $87.16.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. Kellogg had a net margin of 4.71% and a return on equity of 56.33%. The company earned $3.27 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Kellogg Co. will post $0.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.52 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Tuesday, August 30th. Kellogg’s payout ratio is currently 119.54%.
Several equities research analysts have weighed in on K shares. Credit Suisse Group AG restated an “outperform” rating on shares of Kellogg in a research note on Wednesday, July 6th. Morgan Stanley reiterated a “hold” rating and issued a $79.00 price target on shares of Kellogg in a research note on Thursday, September 1st. Susquehanna reiterated a “hold” rating on shares of Kellogg in a research note on Wednesday, September 7th. Deutsche Bank AG increased their price target on Kellogg from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $85.00 price target on shares of Kellogg in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $81.65.
In other Kellogg news, Chairman John A. Bryant sold 259,500 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $83.41, for a total value of $21,644,895.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald L. Dissinger sold 6,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $83.71, for a total transaction of $502,260.00. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
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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