ProShare Advisors LLC decreased its holdings in shares of Kellogg (NYSE:K – Get Rating) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,360 shares of the company’s stock after selling 1,258 shares during the quarter. ProShare Advisors LLC’s holdings in Kellogg were worth $3,516,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Asset Dedication LLC bought a new position in Kellogg in the 3rd quarter worth about $29,000. Exos TFP Holdings LLC bought a new position in Kellogg in the 3rd quarter worth about $32,000. RFP Financial Group LLC bought a new position in Kellogg in the 4th quarter worth about $32,000. Guardian Wealth Advisors LLC bought a new position in Kellogg in the 3rd quarter worth about $33,000. Finally, Cowa LLC bought a new position in Kellogg in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 82.59% of the company’s stock.
Wall Street Analyst Weigh In
K has been the subject of several recent analyst reports. TheStreet cut shares of Kellogg from a “b” rating to a “c+” rating in a report on Thursday, February 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kellogg from $73.00 to $69.00 and set a “hold” rating for the company in a report on Monday, March 20th. StockNews.com upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. Morgan Stanley decreased their price objective on shares of Kellogg from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Tuesday, April 11th. Finally, Credit Suisse Group decreased their price objective on shares of Kellogg from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, February 10th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $71.40.
Kellogg Stock Up 0.2 %
Kellogg (NYSE:K – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.85 by $0.09. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.66 billion. Kellogg had a net margin of 6.27% and a return on equity of 32.51%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. As a group, research analysts expect that Kellogg will post 4.04 earnings per share for the current year.
Kellogg Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $2.36 annualized dividend and a dividend yield of 3.50%. Kellogg’s dividend payout ratio (DPR) is presently 84.59%.
Insider Activity at Kellogg
In other Kellogg news, Vice Chairman Gary H. Pilnick sold 22,197 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 23,464 shares in the company, valued at approximately $1,614,557.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $67.63, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gary H. Pilnick sold 22,197 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $68.81, for a total transaction of $1,527,375.57. Following the completion of the sale, the insider now owns 23,464 shares of the company’s stock, valued at approximately $1,614,557.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 628,437 shares of company stock worth $41,995,511. 1.40% of the stock is owned by corporate insiders.
About Kellogg
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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