GPS Wealth Strategies Group LLC purchased a new position in Kellogg (NYSE:K – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,634 shares of the company’s stock, valued at approximately $109,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ronald Blue Trust Inc. raised its position in shares of Kellogg by 120.0% in the 1st quarter. Ronald Blue Trust Inc. now owns 385 shares of the company’s stock valued at $27,000 after purchasing an additional 210 shares in the last quarter. Heritage Wealth Management LLC acquired a new position in shares of Kellogg in the 4th quarter valued at approximately $28,000. RFP Financial Group LLC acquired a new position in shares of Kellogg in the 4th quarter valued at approximately $32,000. Prestige Wealth Management Group LLC raised its position in shares of Kellogg by 72.6% during the 4th quarter. Prestige Wealth Management Group LLC now owns 459 shares of the company’s stock valued at $33,000 after acquiring an additional 193 shares in the last quarter. Finally, Cowa LLC acquired a new stake in shares of Kellogg during the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.22% of the company’s stock.
Kellogg Trading Up 1.9 %
NYSE:K opened at $66.81 on Friday. Kellogg has a 1 year low of $63.74 and a 1 year high of $77.17. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 3.81 and a beta of 0.42. The business has a fifty day moving average of $67.95 and a 200-day moving average of $68.12. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.42 and a current ratio of 0.72.
Kellogg Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $2.36 annualized dividend and a yield of 3.53%. Kellogg’s dividend payout ratio is currently 97.52%.
Insider Activity at Kellogg
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $65.41, for a total transaction of $6,541,000.00. Following the completion of the transaction, the insider now owns 54,831,838 shares of the company’s stock, valued at $3,586,550,523.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kris Bahner sold 3,483 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $71.01, for a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $65.41, for a total value of $6,541,000.00. Following the completion of the transaction, the insider now owns 54,831,838 shares of the company’s stock, valued at approximately $3,586,550,523.58. The disclosure for this sale can be found here. Insiders sold 603,483 shares of company stock valued at $40,770,328 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on K shares. Stifel Nicolaus started coverage on Kellogg in a research report on Thursday, April 13th. They set a “hold” rating and a $71.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target 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 upped their price target for the company from $68.00 to $72.00 in a research report on Friday, May 5th. TheStreet raised Kellogg from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. Finally, Sanford C. Bernstein raised Kellogg from an “underperform” rating to a “market perform” rating and set a $62.00 target price on the stock in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kellogg currently has an average rating of “Hold” and a consensus price target of $71.08.
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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