Securian Asset Management Inc. boosted its holdings in Kellogg (NYSE:K – Get Rating) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,221 shares of the company’s stock after acquiring an additional 464 shares during the quarter. Securian Asset Management Inc.’s holdings in Kellogg were worth $1,512,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Kellogg by 2.0% in the third quarter. Vanguard Group Inc. now owns 30,276,057 shares of the company’s stock worth $2,109,031,000 after acquiring an additional 583,666 shares during the last quarter. State Street Corp increased its position in Kellogg by 2.6% in the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after purchasing an additional 369,620 shares during the last quarter. Invesco Ltd. raised its stake in shares of Kellogg by 6.3% during the 1st quarter. Invesco Ltd. now owns 5,137,164 shares of the company’s stock worth $331,296,000 after purchasing an additional 302,388 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kellogg by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,185,275 shares of the company’s stock worth $269,909,000 after purchasing an additional 310,891 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Kellogg by 2.3% during the 1st quarter. Northern Trust Corp now owns 3,572,408 shares of the company’s stock valued at $230,385,000 after buying an additional 79,732 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
Kellogg Stock Up 0.2 %
Shares of NYSE K opened at $67.35 on Monday. The business has a fifty day moving average of $66.55 and a two-hundred day moving average of $69.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.38 and a current ratio of 0.66. Kellogg has a 52-week low of $63.74 and a 52-week high of $77.17. The stock has a market cap of $23.02 billion, a PE ratio of 24.14, a PEG ratio of 2.78 and a beta of 0.42.
Kellogg Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.50%. Kellogg’s dividend payout ratio (DPR) is presently 84.59%.
Insider Buying and Selling
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $67.63, for a total value of $6,763,000.00. Following the transaction, the insider now directly owns 55,631,838 shares in the company, valued at approximately $3,762,381,203.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $67.63, for a total transaction of $6,763,000.00. Following the completion of the sale, the insider now owns 55,631,838 shares in the company, valued at approximately $3,762,381,203.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary H. Pilnick sold 22,197 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $68.81, for a total value of $1,527,375.57. Following the completion of the transaction, the insider now directly owns 23,464 shares in the company, valued at approximately $1,614,557.84. The disclosure for this sale can be found here. Insiders have sold a total of 628,437 shares of company stock worth $41,995,511 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Kellogg from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 11th. Credit Suisse Group reduced their price objective on shares of Kellogg from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, February 10th. StockNews.com raised shares of Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, March 29th. Stifel Nicolaus assumed coverage on Kellogg in a research report on Thursday, April 13th. They issued a “hold” rating and a $71.00 price target for the company. Finally, TheStreet lowered Kellogg from a “b” rating to a “c+” rating in a report on Thursday, February 9th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Kellogg presently has a consensus rating of “Hold” and an average target price of $71.40.
Kellogg Company Profile
Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. It operates through the following segments: North America, Europe, Latin America, and Asia Middle East Africa. The North America segment includes the U.S. businesses and Canada. The Europe segment consists of European countries.
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