Mission Wealth Management LP boosted its holdings in shares of Kellogg (NYSE:K) by 15.3% during the first quarter, Holdings Channel reports. The fund owned 5,126 shares of the company’s stock after purchasing an additional 681 shares during the quarter. Mission Wealth Management LP’s holdings in Kellogg were worth $294,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of K. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Kellogg in the 4th quarter valued at $48,000. Nelson Roberts Investment Advisors LLC boosted its stake in shares of Kellogg by 102.3% in 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. boosted its stake in shares of Kellogg by 179.6% in 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 stake in shares of Kellogg in the 1st quarter valued at $78,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Kellogg by 306.0% in 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 hedge funds and other institutional investors.
Kellogg stock opened at $56.63 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 12-month low of $51.34 and a 12-month high of $74.98. The firm has a market cap of $19.28 billion, a P/E ratio of 13.08, a P/E/G ratio of 3.26 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.06. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Kellogg will post 3.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.56 per share. The ex-dividend date was Friday, May 31st. This represents a $2.24 annualized dividend and a yield of 3.96%. Kellogg’s payout ratio is 51.73%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $57.17, for a total transaction of $5,717,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 600,000 shares of company stock worth $33,937,000. Corporate insiders own 0.09% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Kellogg from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine raised shares of Kellogg from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. Piper Jaffray Companies dropped their target price on shares of Kellogg from $69.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. Finally, Morgan Stanley set a $56.00 target price on shares of Kellogg and gave the company a “hold” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $62.98.
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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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