Asset Management One Co. Ltd. lowered its stake in shares of Kellogg Company (NYSE:K) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,123 shares of the company’s stock after selling 7,676 shares during the period. Asset Management One Co. Ltd. owned 0.15% of Kellogg worth $31,399,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Koch Industries Inc. purchased a new stake in shares of Kellogg in the second quarter worth $217,000. FDO Partners LLC purchased a new stake in shares of Kellogg in the third quarter worth $219,000. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of Kellogg in the second quarter worth $222,000. Cetera Investment Advisers purchased a new stake in shares of Kellogg in the second quarter worth $231,000. Finally, Airain ltd purchased a new stake in shares of Kellogg in the second quarter worth $233,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Kellogg Company (NYSE K) traded down $0.74 during midday trading on Monday, hitting $66.53. The company had a trading volume of 2,361,200 shares, compared to its average volume of 2,547,431. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. Kellogg Company has a 12 month low of $58.76 and a 12 month high of $76.69. The company has a market capitalization of $22,984.29, a PE ratio of 16.63, a PEG ratio of 2.69 and a beta of 0.52.
Kellogg (NYSE:K) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same period last year, the business posted $0.96 earnings per share. Kellogg’s quarterly revenue was up .6% compared to the same quarter last year. equities analysts anticipate that Kellogg Company will post 4.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.54 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.16 annualized dividend and a yield of 3.25%. Kellogg’s dividend payout ratio (DPR) is presently 96.43%.
In other Kellogg news, Director Donald R. Knauss sold 6,846 shares of Kellogg stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total value of $428,354.22. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $312,850. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of Kellogg stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $65.00, for a total transaction of $207,675.00. The disclosure for this sale can be found here. Insiders sold 349,754 shares of company stock valued at $22,304,119 over the last 90 days. 1.30% of the stock is currently owned by company insiders.
K has been the topic of a number of research analyst reports. Piper Jaffray Companies cut Kellogg from an “overweight” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Tuesday, September 19th. DZ Bank cut Kellogg from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets reissued a “hold” rating and issued a $78.00 target price on shares of Kellogg in a research note on Wednesday, September 6th. Argus raised Kellogg from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Wednesday, November 22nd. Finally, UBS reduced their price objective on Kellogg from $72.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $71.15.
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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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