Robeco Institutional Asset Management B.V. increased its holdings in Kellogg (NYSE:K – Get Rating) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 339,422 shares of the company’s stock after buying an additional 5,833 shares during the period. Robeco Institutional Asset Management B.V. owned 0.10% of Kellogg worth $23,644,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of K. Renaissance Technologies LLC boosted its holdings in Kellogg by 47.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,647,611 shares of the company’s stock valued at $188,881,000 after purchasing an additional 853,500 shares during the period. Glenmede Trust Co. NA boosted its holdings in Kellogg by 1,923.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 716,281 shares of the company’s stock valued at $49,894,000 after purchasing an additional 680,888 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kellogg by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after acquiring an additional 646,828 shares during the last quarter. State Street Corp lifted its holdings in shares of Kellogg by 2.6% during the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after acquiring an additional 369,620 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Kellogg by 62.8% during the 2nd quarter. FMR LLC now owns 925,296 shares of the company’s stock worth $66,011,000 after acquiring an additional 356,975 shares during the last quarter. 82.59% of the stock is owned by institutional investors.
Insider Buying and Selling at Kellogg
In related news, VP Kurt D. Forche sold 3,265 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total transaction of $226,460.40. Following the transaction, the vice president now owns 8,942 shares in the company, valued at $620,217.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Kurt D. Forche sold 3,265 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total transaction of $226,460.40. Following the transaction, the vice president now owns 8,942 shares in the company, valued at $620,217.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rodrigo Lance sold 2,975 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $67.79, for a total transaction of $201,675.25. Following the transaction, the senior vice president now owns 14,935 shares in the company, valued at approximately $1,012,443.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 528,437 shares of company stock worth $35,770,511. 1.40% of the stock is currently owned by company insiders.
Kellogg Price Performance
Kellogg (NYSE:K – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. Kellogg had a net margin of 6.27% and a return on equity of 32.51%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Kellogg will post 4.04 earnings per share for the current year.
Kellogg announced that its board has approved a stock repurchase program on Monday, December 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Kellogg Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, February 28th. Kellogg’s payout ratio is 84.59%.
Analyst Ratings Changes
K has been the subject of a number of research analyst reports. TheStreet downgraded shares of Kellogg from a “b” rating to a “c+” rating in a report on Thursday, February 9th. StockNews.com raised shares of Kellogg from a “hold” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kellogg from $74.00 to $72.00 in a report on Monday, January 30th. Morgan Stanley lifted their price objective on shares of Kellogg from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 20th. Finally, Credit Suisse Group decreased their target price on shares of Kellogg from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, February 10th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.11.
About Kellogg
Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).
Featured Stories
- Get a free copy of the StockNews.com research report on Kellogg (K)
- Don’t Miss Out: $2 Trillion Could be Headed to the Banking Sector
- A Weakening Economy Suggests Caution Before Buying Five Below
- Williams-Sonoma: Time To Buy At Rock-Bottom Prices
- Why DraftKings Could Keep Outperforming in 2023
- Charles Schwab And The Safest 30% You Can Make This Year
Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.
