Freestone Capital Holdings LLC raised its stake in shares of Kellogg (NYSE:K) by 26.6% in the first quarter, Holdings Channel reports. The institutional investor owned 55,172 shares of the company’s stock after acquiring an additional 11,598 shares during the period. Freestone Capital Holdings LLC’s holdings in Kellogg were worth $3,166,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acima Private Wealth LLC acquired a new stake in Kellogg in the 4th quarter worth about $25,000. Bruderman Asset Management LLC boosted its holdings in Kellogg by 275.0% in the 4th quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after buying an additional 319 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Kellogg by 5,672.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock worth $28,000 after buying an additional 1,541,399 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new stake in Kellogg in the 4th quarter worth about $28,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in Kellogg in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 88.75% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine upgraded Kellogg from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Piper Jaffray Companies lowered their price objective on Kellogg from $69.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Credit Suisse Group set a $54.00 price objective on Kellogg and gave the stock a “hold” rating in a report on Saturday, February 9th. Finally, BMO Capital Markets lowered their price objective on Kellogg to $62.00 and set a “market perform” rating on the stock in a report on Friday, February 8th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.98.
Shares of Kellogg stock opened at $57.09 on Friday. The company has a market cap of $19.25 billion, a PE ratio of 13.18, a P/E/G ratio of 3.24 and a beta of 0.56. 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 2.75, a quick ratio of 0.41 and a current ratio of 0.68.
Kellogg (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.06. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. As a group, analysts expect that Kellogg will post 3.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, May 31st. Kellogg’s dividend payout ratio is currently 51.73%.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $53.98, for a total transaction of $5,398,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 600,000 shares of company stock worth $33,851,000. 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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