Huntington National Bank held its stake in Kellogg Co. (NYSE:K) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,847 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Kellogg were worth $1,771,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in K. NN Investment Partners Holdings N.V. acquired a new stake in shares of Kellogg during the first quarter worth approximately $115,000. Tobam acquired a new stake in shares of Kellogg during the first quarter worth approximately $141,000. Fox Run Management L.L.C. acquired a new stake in shares of Kellogg during the second quarter worth approximately $204,000. Stewart & Patten Co. LLC acquired a new stake in shares of Kellogg during the second quarter worth approximately $212,000. Finally, Shufro Rose & Co. LLC raised its stake in shares of Kellogg by 3.6% in the first quarter. Shufro Rose & Co. LLC now owns 2,880 shares of the company’s stock worth $220,000 after buying an additional 100 shares during the period. Institutional investors own 81.75% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded down 0.65% during midday trading on Friday, reaching $77.71. The company had a trading volume of 779,964 shares. The firm has a market capitalization of $27.22 billion, a price-to-earnings ratio of 44.46 and a beta of 0.45. Kellogg Co. has a 12-month low of $64.65 and a 12-month high of $87.16. The company has a 50 day moving average of $81.10 and a 200 day moving average of $78.60.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. The business earned $3.27 billion during the quarter, compared to the consensus estimate of $3.37 billion. Kellogg had a return on equity of 56.33% and a net margin of 4.71%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Analysts anticipate that Kellogg Co. will post $0.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, August 30th. This is an increase from Kellogg’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.68%. Kellogg’s dividend payout ratio (DPR) is presently 119.54%.
A number of analysts have commented on K shares. Citigroup Inc. decreased their price target on shares of Kellogg from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Argus restated a “hold” rating on shares of Kellogg in a research note on Friday, August 5th. Deutsche Bank AG restated a “hold” rating on shares of Kellogg in a research note on Saturday, August 6th. Susquehanna restated a “hold” rating on shares of Kellogg in a research note on Wednesday, August 3rd. Finally, Morgan Stanley restated a “hold” rating and set a $79.00 price target on shares of Kellogg in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $81.65.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $76.98, for a total value of $19,245,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John T. Dillon sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $82.66, for a total value of $247,980.00. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
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.