Kellogg (K) Major Shareholder Sells $14,292,600.00 in Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of Kellogg stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $69.72, for a total value of $14,292,600.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellogg W. K. Foundation Trust also recently made the following trade(s):

  • On Thursday, September 13th, Kellogg W. K. Foundation Trust sold 215,000 shares of Kellogg stock. The shares were sold at an average price of $74.61, for a total value of $16,041,150.00.
  • On Thursday, August 9th, Kellogg W. K. Foundation Trust sold 150,000 shares of Kellogg stock. The shares were sold at an average price of $71.20, for a total value of $10,680,000.00.
  • On Friday, July 13th, Kellogg W. K. Foundation Trust sold 150,000 shares of Kellogg stock. The shares were sold at an average price of $71.06, for a total value of $10,659,000.00.

NYSE K opened at $67.95 on Friday. The company has a market capitalization of $24.27 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 2.03 and a beta of 0.49. The company has a current ratio of 0.82, a quick ratio of 0.50 and a debt-to-equity ratio of 2.57. Kellogg has a 52 week low of $56.40 and a 52 week high of $74.98.

Kellogg (NYSE:K) last released its earnings results on Thursday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.09. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Kellogg had a return on equity of 59.68% and a net margin of 13.33%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. As a group, equities analysts expect that Kellogg will post 4.52 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were paid a $0.56 dividend. This is a boost from Kellogg’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, August 31st. This represents a $2.24 annualized dividend and a yield of 3.30%. Kellogg’s payout ratio is presently 55.45%.

Several equities analysts have recently weighed in on the company. Wells Fargo & Co reiterated a “hold” rating and set a $67.00 price objective (up previously from $62.00) on shares of Kellogg in a report on Sunday, August 5th. Credit Suisse Group lifted their price objective on Kellogg from $71.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, August 9th. Buckingham Research lifted their price objective on Kellogg from $79.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 3rd. ValuEngine upgraded Kellogg from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Finally, Morgan Stanley assumed coverage on Kellogg in a research note on Monday, September 17th. They issued an “equal weight” rating and a $75.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $72.76.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA acquired a new position in shares of Kellogg during the 2nd quarter worth approximately $103,000. Integrated Investment Consultants LLC acquired a new position in shares of Kellogg during the 2nd quarter worth approximately $110,000. CSat Investment Advisory L.P. acquired a new position in shares of Kellogg during the 2nd quarter worth approximately $127,000. Fort L.P. acquired a new position in shares of Kellogg during the 2nd quarter worth approximately $127,000. Finally, Kiley Juergens Wealth Management LLC increased its position in shares of Kellogg by 57.7% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,127 shares of the company’s stock worth $148,000 after purchasing an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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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Insider Buying and Selling by Quarter for Kellogg (NYSE:K)

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