UBS Asset Management Americas Inc. boosted its holdings in shares of Kellogg (NYSE:K) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,726,093 shares of the company’s stock after buying an additional 47,689 shares during the period. UBS Asset Management Americas Inc.’s holdings in Kellogg were worth $107,415,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in K. Beutel Goodman & Co Ltd. boosted its stake in shares of Kellogg by 22.0% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,751,647 shares of the company’s stock valued at $233,464,000 after buying an additional 677,403 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Kellogg in the 4th quarter valued at approximately $40,259,000. Lazard Asset Management LLC increased its holdings in Kellogg by 167.7% in the fourth quarter. Lazard Asset Management LLC now owns 805,767 shares of the company’s stock worth $50,142,000 after buying an additional 504,765 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Kellogg by 17.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,751,494 shares of the company’s stock valued at $171,225,000 after acquiring an additional 413,570 shares during the last quarter. Finally, KAMES CAPITAL plc bought a new stake in Kellogg in the fourth quarter worth approximately $23,325,000. Hedge funds and other institutional investors own 86.08% of the company’s stock.
A number of brokerages have recently commented on K. JPMorgan Chase & Co. lowered their price objective on Kellogg from $67.00 to $58.00 in a report on Tuesday, January 19th. Piper Sandler lowered shares of Kellogg from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $66.00 in a research report on Tuesday, January 5th. Citigroup decreased their target price on Kellogg from $75.00 to $72.00 in a research note on Tuesday, February 16th. Morgan Stanley decreased their price target on shares of Kellogg from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, February 12th. Finally, Jefferies Financial Group cut their target price on Kellogg from $69.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, January 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $66.83.
Shares of NYSE:K opened at $63.67 on Thursday. Kellogg has a 12 month low of $56.61 and a 12 month high of $72.88. The firm has a market cap of $21.67 billion, a P/E ratio of 18.40, a P/E/G ratio of 3.71 and a beta of 0.60. The company has a quick ratio of 0.58, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The company’s 50-day moving average price is $60.41 and its two-hundred day moving average price is $61.92.
Kellogg (NYSE:K) last released its quarterly earnings results on Wednesday, February 10th. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.03). Kellogg had a net margin of 8.80% and a return on equity of 41.23%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, equities analysts predict that Kellogg will post 4.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Tuesday, March 9th were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 1st. This represents a $2.28 annualized dividend and a dividend yield of 3.58%. Kellogg’s dividend payout ratio (DPR) is currently 57.87%.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $61.89, for a total transaction of $5,157,541.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 500,001 shares of company stock valued at $29,460,060 over the last three months. Insiders own 1.10% 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 four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
Featured Article: Limitations of analyzing profit margin
Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg (NYSE:K).
Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.