DnB Asset Management AS lifted its holdings in shares of Kellogg (NYSE:K – Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,236 shares of the company’s stock after acquiring an additional 2,566 shares during the quarter. DnB Asset Management AS’s holdings in Kellogg were worth $3,766,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in K. LGT Group Foundation lifted its holdings in Kellogg by 11.3% in the 1st quarter. LGT Group Foundation now owns 52,351 shares of the company’s stock worth $3,505,000 after buying an additional 5,300 shares in the last quarter. Carmel Capital Partners LLC acquired a new position in Kellogg in the 1st quarter worth $78,000. Nordea Investment Management AB lifted its holdings in Kellogg by 1.4% in the 1st quarter. Nordea Investment Management AB now owns 1,055,582 shares of the company’s stock worth $70,766,000 after buying an additional 14,227 shares in the last quarter. Brookstone Capital Management lifted its holdings in Kellogg by 12.0% in the 1st quarter. Brookstone Capital Management now owns 210,696 shares of the company’s stock worth $14,247,000 after buying an additional 22,629 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its holdings in Kellogg by 8.0% in the 1st quarter. Beacon Financial Advisory LLC now owns 12,349 shares of the company’s stock worth $827,000 after buying an additional 911 shares in the last quarter. Institutional investors and hedge funds own 83.22% of the company’s stock.
Insiders Place Their Bets
In other news, SVP Kris Bahner sold 3,483 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were 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 directly owns 18,013 shares in the company, valued at $1,279,103.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $65.41, for a total transaction of $6,541,000.00. Following the completion of the sale, the insider now directly owns 54,831,838 shares of the company’s stock, valued at $3,586,550,523.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kris Bahner sold 3,483 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $71.01, for a total transaction of $247,327.83. Following the sale, the senior vice president now directly owns 18,013 shares of the company’s stock, valued at $1,279,103.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 603,483 shares of company stock worth $40,770,328. Insiders own 1.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Kellogg Price Performance
NYSE K opened at $68.38 on Friday. Kellogg has a 52 week low of $63.74 and a 52 week high of $77.17. The company has a current ratio of 0.72, a quick ratio of 0.42 and a debt-to-equity ratio of 1.29. The stock has a market cap of $23.44 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 3.98 and a beta of 0.41. The company has a 50-day moving average price of $67.95 and a two-hundred day moving average price of $67.95.
Kellogg (NYSE:K – Free Report) last posted its earnings results on Thursday, May 4th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Kellogg had a net margin of 5.33% and a return on equity of 32.09%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. Kellogg’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts forecast that Kellogg will post 4.1 EPS for the current year.
Kellogg Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Wednesday, May 31st. Kellogg’s dividend payout ratio (DPR) is 97.52%.
Kellogg Company 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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