Syntal Capital Partners LLC lowered its stake in Kellogg Co. (NYSE:K) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,613 shares of the company’s stock after selling 187 shares during the period. Syntal Capital Partners LLC’s holdings in Kellogg were worth $213,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Trust Co. of Toledo NA OH increased its position in shares of Kellogg by 0.5% in the second quarter. Trust Co. of Toledo NA OH now owns 5,869 shares of the company’s stock worth $479,000 after buying an additional 28 shares during the period. Canandaigua National Bank & Trust Co. increased its position in shares of Kellogg by 0.8% in the first quarter. Canandaigua National Bank & Trust Co. now owns 10,556 shares of the company’s stock worth $808,000 after buying an additional 81 shares during the period. Shufro Rose & Co. LLC increased its position 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. Cullen Frost Bankers Inc. increased its position in shares of Kellogg by 0.6% in the second quarter. Cullen Frost Bankers Inc. now owns 21,895 shares of the company’s stock worth $1,788,000 after buying an additional 127 shares during the period. Finally, Advisor Partners LLC increased its position in shares of Kellogg by 5.8% in the first quarter. Advisor Partners LLC now owns 3,022 shares of the company’s stock worth $231,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 81.75% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded down 0.28% during trading on Monday, hitting $77.25. The stock had a trading volume of 1,311,893 shares. Kellogg Co. has a 12 month low of $64.65 and a 12 month high of $87.16. The company has a market cap of $27.06 billion, a PE ratio of 44.19 and a beta of 0.47. The stock has a 50 day moving average of $80.31 and a 200 day moving average of $78.68.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. Kellogg had a return on equity of 56.33% and a net margin of 4.71%. The business earned $3.27 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. Kellogg’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities analysts forecast that Kellogg Co. will post $0.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.69%. The ex-dividend date was Tuesday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.50. Kellogg’s payout ratio is currently 119.54%.
A number of brokerages have recently commented on K. Deutsche Bank AG reaffirmed a “hold” rating on shares of Kellogg in a research report on Saturday, August 6th. Argus reaffirmed a “hold” rating on shares of Kellogg in a research report on Friday, August 5th. Citigroup Inc. dropped their price target on Kellogg from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $86.00 price target (up previously from $82.00) on shares of Kellogg in a research report on Friday, August 5th. Finally, Royal Bank Of Canada upped their price target on Kellogg from $82.00 to $86.00 and gave the company a “sector perform” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $81.65.
In other news, CFO Ronald L. Dissinger sold 6,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $83.71, for a total value of $502,260.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 130,000 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $82.44, for a total value of $10,717,200.00. The disclosure for this sale can be found here. Company 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.
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