Kellogg W. K. Foundation Trust Sells 100,000 Shares of Kellogg (NYSE:K) Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $54.84, for a total value of $5,484,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Monday, May 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $56.58, for a total value of $5,658,000.00.
  • On Friday, May 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $57.81, for a total value of $5,781,000.00.
  • On Monday, April 22nd, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00.
  • On Wednesday, April 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $57.17, for a total value of $5,717,000.00.
  • On Wednesday, March 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $54.44, for a total value of $5,444,000.00.

NYSE:K opened at $56.61 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.41 and a current ratio of 0.68. Kellogg has a 1 year low of $51.34 and a 1 year high of $74.98. The company has a market capitalization of $19.14 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 3.19 and a beta of 0.64.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.06. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Kellogg will post 3.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, May 31st. Kellogg’s payout ratio is 51.73%.

K has been the topic of a number of research analyst reports. Morgan Stanley set a $56.00 price target on Kellogg and gave the stock a “hold” rating in a report on Tuesday, April 2nd. ValuEngine raised Kellogg from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Piper Jaffray Companies reduced their price objective on Kellogg from $69.00 to $64.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.98.

A number of large investors have recently added to or reduced their stakes in K. Edmond DE Rothschild Holding S.A. bought a new position in shares of Kellogg during the 4th quarter valued at approximately $48,000. Nelson Roberts Investment Advisors LLC increased its position in shares of Kellogg by 102.3% during the 1st quarter. Nelson Roberts Investment Advisors LLC now owns 1,416 shares of the company’s stock valued at $81,000 after purchasing an additional 716 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Kellogg by 179.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,750 shares of the company’s stock valued at $3,235,000 after purchasing an additional 36,450 shares during the last quarter. Farmers National Bank bought a new position in shares of Kellogg during the 1st quarter valued at approximately $78,000. Finally, Mackenzie Financial Corp increased its position in shares of Kellogg by 306.0% during the 4th quarter. Mackenzie Financial Corp now owns 311,553 shares of the company’s stock valued at $17,762,000 after purchasing an additional 234,822 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.

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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. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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

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