Strs Ohio increased its position in shares of Kellogg Co. (NYSE:K) by 76.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,306 shares of the company’s stock after buying an additional 9,648 shares during the period. Strs Ohio’s holdings in Kellogg were worth $1,821,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Pictet Asset Management Ltd. increased its position in shares of Kellogg by 10.8% in the first quarter. Pictet Asset Management Ltd. now owns 252,242 shares of the company’s stock valued at $18,671,000 after buying an additional 24,657 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Kellogg during the first quarter valued at about $4,376,000. Scotia Capital Inc. increased its stake in Kellogg by 8.5% in the first quarter. Scotia Capital Inc. now owns 33,697 shares of the company’s stock worth $2,579,000 after buying an additional 2,637 shares during the period. State Street Corp increased its stake in Kellogg by 2.4% in the first quarter. State Street Corp now owns 11,165,027 shares of the company’s stock worth $854,689,000 after buying an additional 263,860 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Kellogg during the first quarter worth $966,000. Institutional investors own 81.76% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded up 0.17% during midday trading on Monday, reaching $76.47. 1,657,798 shares of the company were exchanged. The stock has a 50-day moving average price of $79.37 and a 200 day moving average price of $78.70. The company has a market capitalization of $26.78 billion, a P/E ratio of 43.75 and a beta of 0.47. Kellogg Co. has a 52-week low of $64.65 and a 52-week high of $87.16.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.91. Kellogg had a net margin of 4.71% and a return on equity of 56.33%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts expect that Kellogg Co. will post $0.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This is a boost from Kellogg’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.72%. Kellogg’s dividend payout ratio (DPR) is presently 119.54%.
A number of equities research analysts have weighed in on the company. Deutsche Bank AG restated a “hold” rating on shares of Kellogg in a research report on Saturday, August 6th. JPMorgan Chase & Co. upped their target price on Kellogg from $73.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. RBC Capital Markets restated a “sector perform” rating and issued a $86.00 target price (up from $82.00) on shares of Kellogg in a research report on Friday, August 5th. Susquehanna restated a “hold” rating on shares of Kellogg in a research report on Wednesday, August 3rd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $85.00 target price on shares of Kellogg in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $81.65.
In other Kellogg news, CFO Ronald L. Dissinger sold 6,000 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $83.71, for a total value of $502,260.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Maria Fernanda Mejia sold 35,175 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $83.01, for a total transaction of $2,919,876.75. Following the completion of the sale, the insider now owns 35,111 shares in the company, valued at $2,914,564.11. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by company insiders.
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg Co. (NYSE:K).
Receive News & Ratings for Kellogg Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Co. and related companies with MarketBeat.com's FREE daily email newsletter.