Texas Permanent School Fund raised its position in Kellogg (NYSE:K – Get Rating) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 36,367 shares of the company’s stock after acquiring an additional 274 shares during the period. Texas Permanent School Fund’s holdings in Kellogg were worth $2,591,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P grew its holdings in Kellogg by 95.3% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company’s stock valued at $27,405,000 after buying an additional 207,392 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Kellogg by 16.7% in the first quarter. HighTower Advisors LLC now owns 18,121 shares of the company’s stock valued at $1,167,000 after buying an additional 2,590 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Kellogg by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company’s stock worth $2,208,000 after purchasing an additional 2,119 shares during the period. Raymond James Trust N.A. grew its stake in Kellogg by 46.9% in the first quarter. Raymond James Trust N.A. now owns 8,653 shares of the company’s stock valued at $558,000 after acquiring an additional 2,764 shares during the period. Finally, Cibc World Market Inc. grew its stake in Kellogg by 6.4% in the first quarter. Cibc World Market Inc. now owns 38,670 shares of the company’s stock valued at $2,494,000 after acquiring an additional 2,313 shares during the period. Institutional investors own 82.59% of the company’s stock.
Kellogg Trading Down 0.9 %
NYSE K opened at $70.46 on Wednesday. Kellogg has a fifty-two week low of $63.74 and a fifty-two week high of $77.17. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.42 and a current ratio of 0.72. The stock has a 50 day simple moving average of $67.08 and a two-hundred day simple moving average of $69.41. The stock has a market cap of $24.15 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 2.88 and a beta of 0.42.
Kellogg Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, May 31st. Kellogg’s payout ratio is 97.52%.
Analyst Ratings Changes
K has been the subject of a number of research reports. TheStreet raised Kellogg from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Credit Suisse Group reduced their price objective on Kellogg from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, February 10th. UBS Group raised their price objective on Kellogg from $73.00 to $74.00 in a research note on Friday, May 5th. Barclays lifted their price target on Kellogg from $72.00 to $74.00 in a report on Monday. Finally, Morgan Stanley reduced their price target on Kellogg from $74.00 to $71.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $72.27.
Insiders Place Their Bets
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $67.14, for a total transaction of $6,714,000.00. Following the sale, the insider now owns 55,131,838 shares in the company, valued at $3,701,551,603.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Kurt D. Forche sold 3,265 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total value of $226,460.40. Following the completion of the transaction, the vice president now directly owns 8,942 shares of the company’s stock, valued at $620,217.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $67.14, for a total transaction of $6,714,000.00. Following the completion of the transaction, the insider now directly owns 55,131,838 shares of the company’s stock, valued at $3,701,551,603.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 628,437 shares of company stock worth $41,995,511. Company insiders own 1.40% of the company’s stock.
Kellogg 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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