Private Advisor Group LLC decreased its position in Kellogg (NYSE:K) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,909 shares of the company’s stock after selling 8,124 shares during the period. Private Advisor Group LLC’s holdings in Kellogg were worth $1,167,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Resources Investment Advisors Inc. grew its stake in shares of Kellogg by 65.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,859 shares of the company’s stock valued at $127,000 after buying an additional 737 shares during the period. Van Hulzen Asset Management LLC grew its stake in shares of Kellogg by 24.5% in the 3rd quarter. Van Hulzen Asset Management LLC now owns 4,046 shares of the company’s stock valued at $252,000 after buying an additional 796 shares during the period. Westpac Banking Corp grew its stake in shares of Kellogg by 0.4% in the 4th quarter. Westpac Banking Corp now owns 184,330 shares of the company’s stock valued at $12,531,000 after buying an additional 808 shares during the period. Naples Global Advisors LLC grew its stake in shares of Kellogg by 21.7% in the 4th quarter. Naples Global Advisors LLC now owns 5,014 shares of the company’s stock valued at $341,000 after buying an additional 895 shares during the period. Finally, Sigma Planning Corp grew its stake in shares of Kellogg by 16.9% in the 3rd quarter. Sigma Planning Corp now owns 6,281 shares of the company’s stock valued at $392,000 after buying an additional 907 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.11, for a total value of $2,898,371.65. Following the completion of the transaction, the insider now owns 67,887,323 shares of the company’s stock, valued at approximately $4,420,143,600.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.14, for a total transaction of $5,120,394.84. The disclosure for this sale can be found here. Insiders sold a total of 306,316 shares of company stock valued at $20,381,841 in the last three months. 1.30% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $78.00 price objective on shares of Kellogg in a research report on Wednesday, October 25th. Piper Jaffray Companies set a $72.00 price objective on shares of Kellogg and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Susquehanna Bancshares set a $69.00 price objective on shares of Kellogg and gave the stock a “hold” rating in a research report on Monday, February 5th. Credit Suisse Group increased their price objective on shares of Kellogg from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley increased their price objective on shares of Kellogg from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $73.50.
Kellogg (NYSE K) opened at $69.66 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 3.52. Kellogg has a 1 year low of $58.76 and a 1 year high of $75.31. The firm has a market cap of $24,065.62, a P/E ratio of 17.24, a P/E/G ratio of 2.15 and a beta of 0.47.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.96 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the company posted $0.92 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. analysts expect that Kellogg will post 4.44 earnings per share for the current fiscal year.
Kellogg announced that its Board of Directors has authorized a share buyback plan on Friday, December 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, March 5th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.10%. Kellogg’s dividend payout ratio is presently 59.67%.
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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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