Worldquant Millennium Quantitative Strategies LLC purchased a new position in shares of Kellogg (NYSE:K) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 111,032 shares of the company’s stock, valued at approximately $7,758,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Kellogg by 4,284.6% in the 1st quarter. Victory Capital Management Inc. now owns 172,360 shares of the company’s stock valued at $11,205,000 after purchasing an additional 168,429 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Kellogg by 12.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 124,129 shares of the company’s stock valued at $8,069,000 after purchasing an additional 14,020 shares in the last quarter. Aperio Group LLC boosted its holdings in Kellogg by 3.5% in the 1st quarter. Aperio Group LLC now owns 124,804 shares of the company’s stock valued at $8,114,000 after purchasing an additional 4,222 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Kellogg by 7.4% in the 1st quarter. Neuberger Berman Group LLC now owns 14,599 shares of the company’s stock valued at $999,000 after purchasing an additional 1,006 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Kellogg by 7.6% in the 1st quarter. US Bancorp DE now owns 141,215 shares of the company’s stock valued at $9,181,000 after purchasing an additional 10,001 shares in the last quarter. 88.94% of the stock is currently owned by hedge funds and other institutional investors.

K stock opened at $74.84 on Friday. Kellogg has a 12-month low of $56.40 and a 12-month high of $74.90. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.82 and a quick ratio of 0.50. The company has a market cap of $25.81 billion, a PE ratio of 18.52, a P/E/G ratio of 2.17 and a beta of 0.46.

Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Kellogg had a return on equity of 59.68% and a net margin of 13.33%. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the previous year, the firm posted $0.97 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. analysts forecast that Kellogg will post 4.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Tuesday, September 4th will be given a dividend of $0.56 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, August 31st. Kellogg’s payout ratio is currently 55.45%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 150,000 shares of Kellogg stock in a transaction that occurred on Friday, July 13th. The stock was sold at an average price of $71.06, for a total transaction of $10,659,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gary H. Pilnick sold 66,655 shares of Kellogg stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $72.25, for a total value of $4,815,823.75. The disclosure for this sale can be found here. Insiders have sold a total of 741,655 shares of company stock valued at $53,371,974 over the last 90 days. Insiders own 1.40% of the company’s stock.

A number of equities research analysts have recently issued reports on K shares. Wells Fargo & Co reiterated a “hold” rating on shares of Kellogg in a research report on Monday, July 23rd. Buckingham Research lifted their price target on shares of Kellogg from $76.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Credit Suisse Group set a $68.00 price target on shares of Kellogg and gave the company a “hold” rating in a research report on Tuesday, June 12th. Finally, ValuEngine upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.06.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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