Kellogg Company (K) Major Shareholder Sells $1,852,000.00 in Stock
Kellogg Company (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of Kellogg Company stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Kellogg Company (K) opened at 71.76 on Tuesday. Kellogg Company has a 52-week low of $68.67 and a 52-week high of $87.16. The company’s 50-day moving average price is $71.68 and its 200-day moving average price is $72.80. The firm has a market cap of $25.14 billion, a price-to-earnings ratio of 32.47 and a beta of 0.49.
Kellogg Company (NYSE:K) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Kellogg Company had a return on equity of 67.99% and a net margin of 6.07%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the company earned $0.97 EPS. The firm’s revenue was down 4.2% on a year-over-year basis. Analysts predict that Kellogg Company will post $3.92 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $2.08 annualized dividend and a dividend yield of 2.90%. Kellogg Company’s dividend payout ratio is currently 94.55%.
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Several equities research analysts have issued reports on K shares. Sanford C. Bernstein downgraded Kellogg Company from a “market perform” rating to an “underperform” rating in a report on Tuesday, March 21st. Zacks Investment Research downgraded Kellogg Company from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $80.00 price target (down from $82.00) on shares of Kellogg Company in a report on Tuesday, April 25th. TheStreet upgraded Kellogg Company from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Finally, Royal Bank Of Canada lowered their price target on Kellogg Company from $84.00 to $81.00 and set a “sector perform” rating for the company in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $81.33.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Advisor Alliance acquired a new stake in shares of Kellogg Company during the fourth quarter valued at approximately $116,000. Exane Derivatives increased its stake in shares of Kellogg Company by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock valued at $134,000 after buying an additional 1,403 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in shares of Kellogg Company during the first quarter valued at approximately $143,000. Security National Trust Co. increased its stake in shares of Kellogg Company by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock valued at $150,000 after buying an additional 139 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Kellogg Company by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock valued at $161,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.
About Kellogg Company
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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