Bp Plc Holds Position in Kellogg Company (NYSE:K)
Bp Plc continued to hold its stake in shares of Kellogg Company (NYSE:K) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 30,000 shares of the company’s stock at the end of the second quarter. Bp Plc’s holdings in Kellogg were worth $2,084,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Raymond James Trust N.A. increased its stake in shares of Kellogg by 4.9% in the first quarter. Raymond James Trust N.A. now owns 7,941 shares of the company’s stock worth $577,000 after buying an additional 371 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Kellogg by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 81,217 shares of the company’s stock worth $5,897,000 after buying an additional 1,100 shares in the last quarter. National Pension Service increased its stake in shares of Kellogg by 7.0% in the first quarter. National Pension Service now owns 226,007 shares of the company’s stock worth $16,395,000 after buying an additional 14,764 shares in the last quarter. Alpha Windward LLC increased its stake in shares of Kellogg by 1.5% in the first quarter. Alpha Windward LLC now owns 2,564 shares of the company’s stock worth $186,000 after buying an additional 37 shares in the last quarter. Finally, Private Bank & Trust Co. increased its stake in shares of Kellogg by 29.0% in the first quarter. Private Bank & Trust Co. now owns 6,240 shares of the company’s stock worth $454,000 after buying an additional 1,404 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.
Shares of Kellogg Company (NYSE K) opened at 68.75 on Friday. The company has a 50-day moving average of $67.95 and a 200 day moving average of $71.57. Kellogg Company has a 12-month low of $65.32 and a 12-month high of $84.01. The firm has a market cap of $23.73 billion, a P/E ratio of 31.12 and a beta of 0.50.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. Kellogg’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Kellogg Company will post $3.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.54 per share. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 30th. This represents a $2.16 annualized dividend and a yield of 3.14%. Kellogg’s dividend payout ratio is 94.12%.
A number of analysts have recently issued reports on K shares. Susquehanna Bancshares Inc restated a “neutral” rating and set a $80.00 price target (down previously from $82.00) on shares of Kellogg in a report on Tuesday, April 25th. Royal Bank Of Canada cut their price target on shares of Kellogg from $84.00 to $81.00 and set a “sector perform” rating for the company in a report on Friday, May 5th. UBS AG cut their price target on shares of Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Credit Suisse Group dropped their target price on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Finally, TheStreet upgraded shares of Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Kellogg presently has an average rating of “Hold” and an average target price of $74.50.
In other news, Director John T. Dillon sold 4,900 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
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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