Mogy Joel R Investment Counsel Inc. Trims Stake in Kellogg (NYSE:K)

Mogy Joel R Investment Counsel Inc. decreased its position in shares of Kellogg (NYSE:KGet Rating) by 90.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 500 shares of the company’s stock after selling 4,500 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Kellogg were worth $32,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Counselors Inc. boosted its position in shares of Kellogg by 4.4% in the 4th quarter. Financial Counselors Inc. now owns 4,123 shares of the company’s stock worth $266,000 after purchasing an additional 174 shares in the last quarter. Advisors Preferred LLC boosted its position in shares of Kellogg by 2.7% in the 4th quarter. Advisors Preferred LLC now owns 6,696 shares of the company’s stock worth $433,000 after purchasing an additional 179 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in shares of Kellogg by 4.9% in the 3rd quarter. United Capital Financial Advisers LLC now owns 3,966 shares of the company’s stock worth $254,000 after purchasing an additional 185 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Kellogg by 18.1% in the 4th quarter. Carroll Financial Associates Inc. now owns 1,207 shares of the company’s stock worth $76,000 after purchasing an additional 185 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Kellogg by 10.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,006 shares of the company’s stock worth $129,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

K has been the topic of several analyst reports. Citigroup upped their price objective on Kellogg from $74.00 to $83.00 in a research report on Friday, May 6th. JPMorgan Chase & Co. cut Kellogg from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $64.00 to $57.00 in a research report on Friday, February 11th. Deutsche Bank Aktiengesellschaft cut Kellogg from a “buy” rating to a “hold” rating and lowered their price objective for the company from $74.00 to $73.00 in a research report on Monday, April 25th. UBS Group began coverage on Kellogg in a research report on Wednesday, March 30th. They issued a “buy” rating and a $73.00 price objective on the stock. Finally, Piper Sandler cut Kellogg from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $66.00 to $62.00 in a report on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.80.

NYSE K traded up $0.09 on Friday, hitting $73.01. The stock had a trading volume of 3,159,967 shares, compared to its average volume of 2,835,587. The business’s fifty day moving average price is $66.23 and its 200 day moving average price is $64.76. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.65 and a quick ratio of 0.39. Kellogg has a 52-week low of $59.54 and a 52-week high of $75.56. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 4.66 and a beta of 0.48.

Kellogg (NYSE:KGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.59 billion. Kellogg had a net margin of 10.81% and a return on equity of 34.82%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 earnings per share. As a group, sell-side analysts anticipate that Kellogg will post 4.09 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $2.32 annualized dividend and a yield of 3.18%. Kellogg’s payout ratio is 51.67%.

In other news, CFO Amit Banati sold 11,054 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $66.53, for a total value of $735,422.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $74.06, for a total transaction of $10,824,091.18. Following the completion of the sale, the insider now owns 57,754,909 shares of the company’s stock, valued at approximately $4,277,328,560.54. The disclosure for this sale can be found here. Insiders sold a total of 914,942 shares of company stock worth $60,805,193 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Kellogg Profile (Get Rating)

Kellogg Company, together with its subsidiaries, manufactures and markets snacks 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.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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