Axa Has $65.56 Million Stake in Kellogg (K)
Axa reduced its position in Kellogg (NYSE:K) by 15.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 936,305 shares of the company’s stock after selling 166,600 shares during the quarter. Axa owned about 0.27% of Kellogg worth $65,560,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in K. LFA Lugano Financial Advisors SA bought a new stake in Kellogg during the second quarter valued at approximately $103,000. Financial Architects Inc bought a new stake in Kellogg during the third quarter valued at approximately $111,000. CSat Investment Advisory L.P. bought a new stake in Kellogg during the second quarter valued at approximately $127,000. Fort L.P. bought a new stake in Kellogg during the second quarter valued at approximately $127,000. Finally, Kiley Juergens Wealth Management LLC lifted its position in Kellogg by 57.7% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,127 shares of the company’s stock valued at $148,000 after purchasing an additional 778 shares during the last quarter. Institutional investors own 88.59% of the company’s stock.
Several research analysts have commented on K shares. Zacks Investment Research reissued a “sell” rating on shares of Kellogg in a research note on Tuesday, November 13th. Citigroup decreased their price target on shares of Kellogg from $79.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Buckingham Research decreased their price target on shares of Kellogg from $77.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Deutsche Bank set a $66.00 price target on shares of Kellogg and gave the stock a “hold” rating in a research note on Wednesday, November 14th. Finally, Credit Suisse Group decreased their price target on shares of Kellogg from $70.00 to $66.00 and set a “hold” rating on the stock in a research note on Wednesday, November 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $70.22.
Shares of NYSE K opened at $61.73 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.52 and a debt-to-equity ratio of 2.41. Kellogg has a 52 week low of $56.40 and a 52 week high of $74.98. The firm has a market capitalization of $21.42 billion, a P/E ratio of 15.28, a PEG ratio of 2.32 and a beta of 0.50.
Kellogg (NYSE:K) last issued its earnings results on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts anticipate that Kellogg will post 4.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, November 30th. Kellogg’s payout ratio is 55.45%.
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Kellogg Company Profile
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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