SL Advisors LLC acquired a new position in Kellogg Co. (NYSE:K) during the second quarter, Holdings Channel reports. The firm acquired 9,603 shares of the company’s stock, valued at approximately $784,000.
Several other institutional investors also recently bought and sold shares of the company. Teachers Advisors Inc. increased its stake in shares of Kellogg by 11.5% in the first quarter. Teachers Advisors Inc. now owns 587,850 shares of the company’s stock worth $45,000,000 after buying an additional 60,670 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Kellogg by 3.9% in the first quarter. BlackRock Group LTD now owns 2,313,154 shares of the company’s stock worth $177,072,000 after buying an additional 86,185 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Kellogg by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,261,472 shares of the company’s stock worth $555,866,000 after buying an additional 294,789 shares during the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of Kellogg by 0.4% in the first quarter. BlackRock Japan Co. Ltd now owns 343,797 shares of the company’s stock worth $26,318,000 after buying an additional 1,334 shares during the last quarter. Finally, Tobam acquired a new stake in shares of Kellogg during the first quarter worth $141,000. 81.75% of the stock is currently owned by institutional investors.
Kellogg Co. (NYSE:K) traded up 0.92% during mid-day trading on Friday, hitting $76.67. The company had a trading volume of 1,331,393 shares. The company has a market capitalization of $26.85 billion, a price-to-earnings ratio of 43.86 and a beta of 0.47. The firm’s 50 day moving average is $79.56 and its 200 day moving average is $78.69. Kellogg Co. has a 52 week low of $64.65 and a 52 week high of $87.16.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.91. Kellogg had a return on equity of 56.33% and a net margin of 4.71%. The company earned $3.27 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter last year, the company earned $0.92 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts predict 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.74%. 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 119.54%.
Several research firms have recently commented on K. Credit Suisse Group AG boosted their price objective on Kellogg from $84.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 21st. Argus restated a “hold” rating on shares of Kellogg in a report on Friday, August 5th. BMO Capital Markets restated a “market perform” rating and set a $85.00 price objective on shares of Kellogg in a report on Monday, August 8th. RBC Capital Markets restated a “sector perform” rating and set a $86.00 price objective (up previously from $82.00) on shares of Kellogg in a report on Friday, August 5th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Kellogg in a report on Saturday, August 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The company currently 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 99,000 shares of Kellogg stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $84.00, for a total value of $8,316,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gary H. Pilnick sold 57,870 shares of Kellogg stock in a transaction on Monday, August 15th. The stock was sold at an average price of $83.36, for a total value of $4,824,043.20. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.
Kellogg Company Profile
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.