Hotchkis & Wiley Capital Management LLC Has $59.21 Million Holdings in Kellogg Company (K)
Hotchkis & Wiley Capital Management LLC trimmed its stake in Kellogg Company (NYSE:K) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 852,486 shares of the company’s stock after selling 1,100 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.24% of Kellogg worth $59,214,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Kellogg by 6.6% during the first quarter. Vanguard Group Inc. now owns 20,273,984 shares of the company’s stock worth $1,472,094,000 after purchasing an additional 1,248,613 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Kellogg by 2,851.0% during the first quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock worth $1,464,385,000 after purchasing an additional 19,484,390 shares during the last quarter. State Street Corp grew its holdings in shares of Kellogg by 1.4% during the first quarter. State Street Corp now owns 11,534,453 shares of the company’s stock worth $837,528,000 after purchasing an additional 154,732 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Kellogg by 2.5% during the first quarter. Lazard Asset Management LLC now owns 4,039,520 shares of the company’s stock worth $293,308,000 after purchasing an additional 97,233 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Kellogg by 73.4% during the first quarter. Renaissance Technologies LLC now owns 3,157,600 shares of the company’s stock worth $229,273,000 after purchasing an additional 1,336,400 shares during the last quarter. Hedge funds and other institutional investors own 85.42% of the company’s stock.
Kellogg Company (K) traded up 1.04% during trading on Friday, reaching $68.32. The company’s stock had a trading volume of 2,579,089 shares. Kellogg Company has a 52-week low of $65.06 and a 52-week high of $78.69. The firm has a 50 day moving average price of $68.39 and a 200-day moving average price of $70.57. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 30.93 and a beta of 0.49.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, analysts expect that Kellogg Company will post $3.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Wednesday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s payout ratio is 97.74%.
Several brokerages have recently commented on K. BidaskClub cut Kellogg from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Susquehanna Bancshares Inc set a $78.00 price target on Kellogg and gave the company a “hold” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada cut their price target on Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 1st. Piper Jaffray Companies assumed coverage on Kellogg in a research note on Wednesday, May 24th. They set an “overweight” rating and a $78.00 price target on the stock. Finally, J P Morgan Chase & Co raised Kellogg from a “neutral” rating to an “overweight” rating and upped their price target for the company from $76.00 to $78.00 in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $74.50.
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.
Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg Company (NYSE:K).
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with MarketBeat.com's FREE daily email newsletter.