American National Bank purchased a new stake in shares of Kellogg (NYSE:K) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,455 shares of the company’s stock, valued at approximately $83,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Kellogg by 73.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,121,246 shares of the company’s stock worth $78,509,000 after acquiring an additional 474,842 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Kellogg in the third quarter worth $812,000. Renaissance Technologies LLC boosted its holdings in Kellogg by 102.4% in the third quarter. Renaissance Technologies LLC now owns 282,800 shares of the company’s stock worth $19,802,000 after acquiring an additional 143,100 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Kellogg in the third quarter worth $365,000. Finally, Pacer Advisors Inc. boosted its holdings in Kellogg by 13.5% in the third quarter. Pacer Advisors Inc. now owns 29,687 shares of the company’s stock worth $2,079,000 after acquiring an additional 3,537 shares in the last quarter. Institutional investors own 86.73% of the company’s stock.
Several equities research analysts have commented on K shares. ValuEngine downgraded Kellogg from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Royal Bank of Canada reissued a “hold” rating and issued a $67.00 target price on shares of Kellogg in a report on Wednesday, December 19th. Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Credit Suisse Group set a $54.00 target price on Kellogg and gave the stock a “hold” rating in a report on Saturday, February 9th. Finally, JPMorgan Chase & Co. dropped their target price on Kellogg to $56.00 and set a “neutral” rating on the stock in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $63.04.
K stock opened at $58.35 on Tuesday. Kellogg has a 1-year low of $53.14 and a 1-year high of $74.98. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.70 and a quick ratio of 0.40. The firm has a market capitalization of $19.72 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 3.24 and a beta of 0.54.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. As a group, research analysts anticipate that Kellogg will post 3.93 EPS for the current fiscal year.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $57.17, for a total transaction of $5,717,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 600,000 shares of company stock valued at $33,655,000 in the last 90 days. Company insiders own 0.09% of the company’s stock.
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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