Thompson Siegel & Walmsley LLC lowered its position in shares of Kellogg (NYSE:K) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 825,776 shares of the company’s stock after selling 5,904 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.24% of Kellogg worth $47,384,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Bruderman Asset Management LLC increased its holdings in shares of Kellogg by 275.0% during the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 319 shares in the last quarter. Acima Private Wealth LLC acquired a new position in Kellogg in the 4th quarter worth approximately $25,000. Murphy Pohlad Asset Management LLC acquired a new position in Kellogg in the 4th quarter worth approximately $28,000. ERTS Wealth Advisors LLC purchased a new stake in Kellogg in the 4th quarter worth approximately $34,000. Finally, Capital Financial Planning LLC purchased a new stake in Kellogg in the 4th quarter worth approximately $34,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on K. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine upgraded Kellogg from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Canaccord Genuity restated an “average” rating on shares of Kellogg in a report on Tuesday. Piper Jaffray Companies decreased 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. Finally, Morgan Stanley set a $56.00 price objective on Kellogg and gave the company a “hold” rating in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Kellogg has a consensus rating of “Hold” and a consensus target price of $62.05.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $3.52 billion during 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 quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. On average, analysts expect that Kellogg will post 3.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.00%. The ex-dividend date was Friday, May 31st. Kellogg’s payout ratio is 51.73%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $54.95, for a total transaction of $5,495,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 600,000 shares of company stock valued at $33,988,000. 0.09% of the stock is owned by company insiders.
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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