Arizona State Retirement System grew its position in shares of Kellogg (NYSE:K – Get Rating) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,203 shares of the company’s stock after purchasing an additional 2,626 shares during the quarter. Arizona State Retirement System’s holdings in Kellogg were worth $5,144,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in K. Texas Permanent School Fund grew its holdings in shares of Kellogg by 0.8% during the fourth quarter. Texas Permanent School Fund now owns 36,367 shares of the company’s stock worth $2,591,000 after buying an additional 274 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Kellogg by 3.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 310,319 shares of the company’s stock valued at $22,107,000 after purchasing an additional 9,360 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in Kellogg by 1.5% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 16,472 shares of the company’s stock valued at $1,173,000 after purchasing an additional 238 shares during the period. Duality Advisers LP acquired a new stake in Kellogg in the fourth quarter valued at about $684,000. Finally, AlphaCentric Advisors LLC lifted its position in Kellogg by 26.6% in the fourth quarter. AlphaCentric Advisors LLC now owns 3,579 shares of the company’s stock valued at $255,000 after purchasing an additional 752 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Kellogg from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $68.00 to $72.00 in a research report on Friday. Credit Suisse Group reduced their price target on shares of Kellogg from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. UBS Group lifted their price target on shares of Kellogg from $73.00 to $74.00 in a research report on Friday. TheStreet upgraded shares of Kellogg from a “c+” rating to a “b-” rating in a research report on Thursday. Finally, Morgan Stanley reduced their price target on shares of Kellogg from $74.00 to $71.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $72.10.
Kellogg Trading Down 0.0 %
Shares of Kellogg stock opened at $70.35 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.72 and a quick ratio of 0.38. Kellogg has a 1 year low of $63.74 and a 1 year high of $77.17. The company has a market capitalization of $24.05 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.73 and a beta of 0.42. The business has a 50 day moving average price of $66.92 and a 200 day moving average price of $69.45.
Kellogg (NYSE:K – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Kellogg had a return on equity of 32.09% and a net margin of 5.33%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm posted $1.10 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate that Kellogg will post 4.08 EPS for the current fiscal year.
Kellogg Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, May 31st. This represents a $2.36 annualized dividend and a dividend yield of 3.35%. Kellogg’s dividend payout ratio is currently 97.52%.
Insider Buying and Selling
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $68.78, for a total value of $6,878,000.00. Following the completion of the sale, the insider now directly owns 55,531,838 shares of the company’s stock, valued at approximately $3,819,479,817.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kellogg news, Vice Chairman Gary H. Pilnick sold 22,197 shares of Kellogg stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $68.81, for a total value of $1,527,375.57. Following the completion of the sale, the insider now directly owns 23,464 shares of the company’s stock, valued at approximately $1,614,557.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $68.78, for a total transaction of $6,878,000.00. Following the completion of the sale, the insider now directly owns 55,531,838 shares of the company’s stock, valued at $3,819,479,817.64. The disclosure for this sale can be found here. Insiders sold 628,437 shares of company stock worth $41,995,511 in the last ninety days. Insiders own 1.40% of the company’s stock.
Kellogg Company Profile
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Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. It operates through the following segments: North America, Europe, Latin America, and Asia Middle East Africa. The North America segment includes the U.S. businesses and Canada. The Europe segment consists of European countries.
Further Reading
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