Kellogg (NYSE:K) Major Shareholder Sells $5,495,000.00 in Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $54.95, for a total value of $5,495,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellogg W. K. Foundation Trust also recently made the following trade(s):

  • On Wednesday, July 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $54.98, for a total value of $5,498,000.00.
  • On Monday, June 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $54.84, for a total value of $5,484,000.00.
  • On Monday, May 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $56.58, for a total value of $5,658,000.00.
  • On Friday, May 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $57.81, for a total value of $5,781,000.00.
  • On Monday, April 22nd, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00.
  • On Wednesday, April 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $57.17, for a total value of $5,717,000.00.

K stock traded down $0.05 during trading hours on Friday, hitting $54.55. The company’s stock had a trading volume of 1,401,217 shares, compared to its average volume of 2,513,541. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.68 and a quick ratio of 0.41. The stock has a market cap of $18.57 billion, a P/E ratio of 12.60, a PEG ratio of 3.14 and a beta of 0.63. Kellogg has a 12 month low of $51.34 and a 12 month high of $74.98. The stock has a 50 day moving average of $55.06.

Kellogg (NYSE:K) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.06. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.53 billion. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The company’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 earnings per share. On average, analysts predict that Kellogg will post 3.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a dividend of $0.56 per share. The ex-dividend date was Friday, May 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.11%. Kellogg’s dividend payout ratio is 51.73%.

Several research analysts have commented on K shares. Piper Jaffray Companies set a $16.00 price objective on WPX Energy and gave the stock a “buy” rating in a report on Friday, April 5th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. GMP Securities restated a “hold” rating and set a $6.00 price objective on shares of TrustCo Bank Corp NY in a report on Thursday. Consumer Edge downgraded Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 price objective on the stock. in a report on Monday, June 24th. Finally, Morgan Stanley set a $56.00 target price on Kellogg and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Kellogg presently has an average rating of “Hold” and an average target price of $62.05.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bruderman Asset Management LLC raised its holdings in shares of Kellogg by 275.0% in the fourth 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 period. Murphy Pohlad Asset Management LLC acquired a new position in shares of Kellogg in the 4th quarter valued at about $28,000. ERTS Wealth Advisors LLC acquired a new position in shares of Kellogg in the 4th quarter valued at about $34,000. Capital Financial Planning LLC acquired a new position in shares of Kellogg in the 4th quarter valued at about $34,000. Finally, JOYN Advisors Inc. boosted its stake in Kellogg by 38.9% during the 4th quarter. JOYN Advisors Inc. now owns 660 shares of the company’s stock valued at $38,000 after purchasing an additional 185 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Kellogg Company Profile

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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