Russell Investments Group Ltd. decreased its position in Kellogg (NYSE:K) by 19.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,964 shares of the company’s stock after selling 28,141 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kellogg were worth $6,303,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Ceredex Value Advisors LLC grew its position in Kellogg by 37.1% during the first quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock worth $163,488,000 after buying an additional 771,375 shares in the last quarter. AMF Pensionsforsakring AB acquired a new stake in shares of Kellogg in the 2nd quarter valued at $19,925,000. Geode Capital Management LLC boosted its holdings in shares of Kellogg by 11.6% in the 4th quarter. Geode Capital Management LLC now owns 3,517,033 shares of the company’s stock valued at $200,178,000 after purchasing an additional 364,719 shares in the last quarter. Highstreet Asset Management Inc. boosted its holdings in shares of Kellogg by 2,314.1% in the 1st quarter. Highstreet Asset Management Inc. now owns 344,714 shares of the company’s stock valued at $19,780,000 after purchasing an additional 330,435 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Kellogg by 27.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,433,186 shares of the company’s stock valued at $81,709,000 after purchasing an additional 311,940 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors.
Kellogg stock traded up $0.12 during trading hours on Friday, reaching $63.82. 31,835 shares of the company’s stock were exchanged, compared to its average volume of 2,227,455. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 2.67. The firm’s 50 day simple moving average is $62.30 and its 200 day simple moving average is $57.72. Kellogg has a twelve month low of $51.34 and a twelve month high of $74.98. The firm has a market capitalization of $21.69 billion, a PE ratio of 14.73, a PEG ratio of 3.60 and a beta of 0.54.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.08. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period last year, the business posted $1.14 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Analysts anticipate that Kellogg will post 3.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, August 30th. Kellogg’s dividend payout ratio (DPR) is presently 52.66%.
K has been the topic of a number of research analyst reports. TheStreet raised Kellogg from a “c+” rating to a “b-” rating in a report on Monday, August 12th. Guggenheim increased their price target on Kellogg from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Credit Suisse Group set a $60.00 price target on Kellogg and gave the company a “hold” rating in a research note on Tuesday. Morgan Stanley increased their price target on Kellogg from $56.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity reiterated an “average” rating on shares of Kellogg in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.28.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $54.98, for a total value of $5,498,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 600,000 shares of company stock valued at $35,403,000. 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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