361 Capital LLC bought a new stake in Kellogg Company (NYSE:K) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 12,137 shares of the company’s stock, valued at approximately $757,000.
Several other institutional investors and hedge funds have also recently modified their holdings of K. Louisiana State Employees Retirement System grew its stake in shares of Kellogg by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the company’s stock valued at $1,084,000 after buying an additional 100 shares during the period. Alpha Windward LLC grew its stake in shares of Kellogg by 0.4% in the 2nd quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock valued at $179,000 after buying an additional 11 shares during the period. Washington Trust Bank grew its stake in shares of Kellogg by 0.8% in the 2nd quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after buying an additional 15 shares during the period. Private Bank & Trust Co. grew its stake in shares of Kellogg by 4.3% in the 2nd quarter. Private Bank & Trust Co. now owns 6,511 shares of the company’s stock valued at $453,000 after buying an additional 271 shares during the period. Finally, Huntington National Bank grew its stake in shares of Kellogg by 2.0% in the 2nd quarter. Huntington National Bank now owns 16,749 shares of the company’s stock valued at $1,164,000 after buying an additional 322 shares during the period. Institutional investors own 86.85% of the company’s stock.
Several brokerages recently weighed in on K. Piper Jaffray Companies set a $78.00 price target on shares of Kellogg and gave the company a “buy” rating in a research report on Monday, August 7th. Royal Bank Of Canada dropped their price target on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. J P Morgan Chase & Co raised shares of Kellogg from a “neutral” rating to an “overweight” rating and raised their price target for the company from $76.00 to $78.00 in a research report on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $74.00 price target (up previously from $71.00) on shares of Kellogg in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Kellogg currently has an average rating of “Hold” and a consensus price target of $71.00.
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In related news, Director James M. Jenness sold 26,592 shares of Kellogg stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $63.08, for a total value of $1,677,423.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven A. Cahillane acquired 15,930 shares of Kellogg stock in a transaction that occurred on Thursday, November 2nd. The stock was acquired at an average price of $62.70 per share, with a total value of $998,811.00. Following the completion of the purchase, the chief executive officer now directly owns 15,930 shares in the company, valued at approximately $998,811. The disclosure for this purchase can be found here. Insiders sold a total of 223,438 shares of company stock worth $14,077,678 in the last ninety days. 1.30% of the stock is currently owned by insiders.
Kellogg Company (K) traded up $0.08 during trading hours on Monday, hitting $65.36. 4,617,400 shares of the company were exchanged, compared to its average volume of 2,526,983. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43. The company has a market cap of $22,580.09, a PE ratio of 16.34, a PEG ratio of 2.64 and a beta of 0.49. Kellogg Company has a 52 week low of $58.76 and a 52 week high of $76.69.
Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. Kellogg’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. sell-side analysts anticipate that Kellogg Company will post 4.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.30%. Kellogg’s dividend payout ratio (DPR) is presently 96.43%.
Kellogg Company Profile
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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