Nicolet Bankshares Inc. increased its stake in shares of Kellogg Co. (NYSE:K) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,943 shares of the company’s stock after buying an additional 88 shares during the period. Nicolet Bankshares Inc.’s holdings in Kellogg were worth $322,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of K. Legal & General Group Plc raised its stake in shares of Kellogg by 1.1% in the first quarter. Legal & General Group Plc now owns 1,227,613 shares of the company’s stock worth $93,976,000 after buying an additional 13,164 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Kellogg by 42.2% in the second quarter. Retirement Systems of Alabama now owns 182,526 shares of the company’s stock worth $14,903,000 after buying an additional 54,123 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Kellogg during the first quarter worth $75,899,000. Shell Asset Management Co. raised its stake in shares of Kellogg by 8.5% in the second quarter. Shell Asset Management Co. now owns 234,423 shares of the company’s stock worth $19,141,000 after buying an additional 18,316 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its stake in shares of Kellogg by 10.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,556,538 shares of the company’s stock worth $160,459,000 after buying an additional 246,616 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.
Kellogg Co. (NYSE:K) traded down 0.38% during mid-day trading on Friday, hitting $75.49. The stock had a trading volume of 2,295,278 shares. The firm’s 50-day moving average is $78.61 and its 200 day moving average is $78.71. The stock has a market cap of $26.44 billion, a PE ratio of 43.19 and a beta of 0.47. Kellogg Co. has a one year low of $64.65 and a one year high of $87.16.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.91 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.91. Kellogg had a net margin of 4.71% and a return on equity of 56.33%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter last year, the business 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 year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Tuesday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.50. Kellogg’s dividend payout ratio (DPR) is currently 119.54%.
A number of equities research analysts have weighed in on K shares. Citigroup Inc. lowered their price objective on Kellogg from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Argus reissued a “hold” rating on shares of Kellogg in a research note on Friday, August 5th. Deutsche Bank AG reissued a “hold” rating on shares of Kellogg in a research note on Saturday, August 6th. Susquehanna reissued a “hold” rating on shares of Kellogg in a research note on Wednesday, August 3rd. Finally, Morgan Stanley reissued 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 assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $81.65.
In other news, 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 approximately $2,914,564.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul T. Norman sold 95,875 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $82.63, for a total value of $7,922,151.25. 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.
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