Traders Sell Shares of Kellogg Co. (K) on Strength (K)
Traders sold shares of Kellogg Co. (NYSE:K) on strength during trading hours on Wednesday. $30.04 million flowed into the stock on the tick-up and $68.96 million flowed out of the stock on the tick-down, for a money net flow of $38.92 million out of the stock. Of all equities tracked, Kellogg had the 0th highest net out-flow for the day. Kellogg traded up $0.22 for the day and closed at $82.48
Several equities research analysts recently commented on the company. Goldman Sachs Group Inc. raised Kellogg from a “sell” rating to a “neutral” rating and increased their price objective for the company from $67.00 to $80.00 in a research report on Wednesday, March 16th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Kellogg in a research report on Sunday, March 27th. Vetr cut Kellogg from a “buy” rating to a “hold” rating and set a $78.98 price objective on the stock. in a research report on Tuesday, March 29th. Zacks Investment Research cut Kellogg from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Finally, Citigroup Inc. increased their price objective on Kellogg from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Kellogg currently has an average rating of “Hold” and a consensus target price of $77.12.
The stock’s 50 day moving average is $76.70 and its 200 day moving average is $75.03. The firm has a market cap of $28.87 billion and a P/E ratio of 52.57.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, analysts forecast that Kellogg Co. will post $3.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.50 per share. The ex-dividend date was Friday, May 27th. This represents a $2.00 annualized dividend and a yield of 2.42%.
In other news, Director James M. Jenness sold 4,170 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $77.45, for a total value of $322,966.50. Following the sale, the director now owns 108,131 shares in the company, valued at $8,374,745.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald L. Dissinger sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $77.02, for a total value of $3,851,000.00. Following the completion of the sale, the chief financial officer now owns 83,749 shares in the company, valued at approximately $6,450,347.98. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in K. Amica Mutual Insurance Co. acquired a new position in Kellogg during the fourth quarter worth $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Kellogg by 1.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,671 shares of the company’s stock worth $1,205,000 after buying an additional 314 shares during the last quarter. Tredje AP fonden boosted its position in Kellogg by 1.1% in the fourth quarter. Tredje AP fonden now owns 16,776 shares of the company’s stock worth $1,212,000 after buying an additional 182 shares during the last quarter. Pittenger & Anderson Inc. boosted its position in Kellogg by 3.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 19,705 shares of the company’s stock worth $1,424,000 after buying an additional 710 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Kellogg by 5.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 21,844 shares of the company’s stock worth $1,579,000 after buying an additional 1,215 shares during the last quarter.
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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