Exchange Traded Concepts LLC grew its holdings in shares of Kellogg (NYSE:K – Get Rating) by 6.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,432 shares of the company’s stock after buying an additional 577 shares during the period. Exchange Traded Concepts LLC’s holdings in Kellogg were worth $632,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Ameritas Advisory Services LLC grew its stake in Kellogg by 12.9% in the third quarter. Ameritas Advisory Services LLC now owns 5,018 shares of the company’s stock worth $350,000 after purchasing an additional 574 shares in the last quarter. Cambridge Trust Co. grew its stake in Kellogg by 6.0% in the fourth quarter. Cambridge Trust Co. now owns 7,100 shares of the company’s stock worth $506,000 after purchasing an additional 400 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Kellogg by 11.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 29,530 shares of the company’s stock worth $2,057,000 after purchasing an additional 2,935 shares in the last quarter. Auto Owners Insurance Co bought a new position in Kellogg in the fourth quarter worth approximately $9,625,000. Finally, Moors & Cabot Inc. grew its stake in Kellogg by 8.2% in the fourth quarter. Moors & Cabot Inc. now owns 6,534 shares of the company’s stock worth $465,000 after purchasing an additional 495 shares in the last quarter. Institutional investors own 83.22% of the company’s stock.
Kellogg Stock Performance
Shares of K opened at $65.60 on Tuesday. The stock has a 50-day moving average of $68.02 and a two-hundred day moving average of $68.18. Kellogg has a one year low of $63.74 and a one year 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 market cap of $22.49 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.79 and a beta of 0.42.
Kellogg Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a dividend of $0.59 per share. The ex-dividend date was Wednesday, May 31st. This represents a $2.36 dividend on an annualized basis and a yield of 3.60%. Kellogg’s dividend payout ratio is currently 97.52%.
Insider Buying and Selling at Kellogg
In other Kellogg news, SVP Kris Bahner sold 3,483 shares of Kellogg stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.01, for a total transaction of $247,327.83. Following the completion of the transaction, the senior vice president now owns 18,013 shares in the company, valued at approximately $1,279,103.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kellogg news, SVP Kris Bahner sold 3,483 shares of Kellogg stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.01, for a total transaction of $247,327.83. Following the completion of the transaction, the senior vice president now owns 18,013 shares in the company, valued at approximately $1,279,103.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $67.14, for a total value of $6,714,000.00. Following the completion of the transaction, the insider now owns 55,131,838 shares of the company’s stock, valued at approximately $3,701,551,603.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 603,483 shares of company stock worth $40,770,328. Insiders own 1.40% of the company’s stock.
Analyst Upgrades and Downgrades
K has been the subject of a number of analyst reports. Sanford C. Bernstein upgraded Kellogg from an “underperform” rating to a “market perform” rating and set a $62.00 target price for the company in a report on Thursday, June 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Kellogg from $60.00 to $71.00 in a research report on Friday, May 5th. JPMorgan Chase & Co. raised Kellogg from an “underweight” rating to a “neutral” rating and increased their target price for the company from $68.00 to $72.00 in a research report on Friday, May 5th. StockNews.com assumed coverage on Kellogg in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Morgan Stanley dropped their target price on Kellogg from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kellogg presently has a consensus rating of “Hold” and an average target price of $70.00.
Kellogg Profile
Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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