Kellogg (NYSE:K) Shares Sold by Strs Ohio

Strs Ohio lessened its holdings in Kellogg (NYSE:K – Free Report) by 27.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,843 shares of the company’s stock after selling 11,733 shares during the quarter. Strs Ohio’s holdings in Kellogg were worth $2,065,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Kellogg by 2.3% during the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock valued at $1,892,981,000 after acquiring an additional 646,828 shares during the period. State Street Corp boosted its holdings in shares of Kellogg by 2.6% during the first quarter. State Street Corp now owns 14,696,120 shares of the company’s stock valued at $947,753,000 after acquiring an additional 369,620 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kellogg by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 5,500,376 shares of the company’s stock valued at $391,169,000 after acquiring an additional 87,624 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kellogg by 11.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,396,277 shares of the company’s stock valued at $384,431,000 after acquiring an additional 552,179 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Kellogg by 6.3% during the first quarter. Invesco Ltd. now owns 5,137,164 shares of the company’s stock valued at $331,296,000 after acquiring an additional 302,388 shares during the period. Institutional investors and hedge funds own 83.22% of the company’s stock.

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Wall Street Analyst Weigh In

K has been the subject of several analyst reports. 22nd Century Group reissued an “upgrade” rating on shares of Kellogg in a report on Tuesday, June 27th. StockNews.com downgraded shares of Kellogg from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. TheStreet upgraded shares of Kellogg from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Morgan Stanley cut their price objective on shares of Kellogg from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 11th. Finally, JPMorgan Chase & Co. upgraded shares of Kellogg from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $72.00 in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kellogg currently has a consensus rating of “Hold” and a consensus price target of $71.08.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $67.14, for a total value of $6,714,000.00. Following the transaction, the insider now owns 55,131,838 shares of the company’s stock, valued at approximately $3,701,551,603.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the senior vice president now owns 18,013 shares of the company’s stock, valued at approximately $1,279,103.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the insider now directly owns 55,131,838 shares in the company, valued at approximately $3,701,551,603.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 603,483 shares of company stock valued at $40,716,328. 1.40% of the stock is owned by corporate insiders.

Kellogg Price Performance

Shares of Kellogg stock opened at $66.61 on Wednesday. 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 company’s 50-day moving average price is $67.40 and its two-hundred day moving average price is $67.65. Kellogg has a 52 week low of $63.74 and a 52 week high of $77.17. The stock has a market cap of $22.83 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 3.93 and a beta of 0.41.

Kellogg (NYSE:K – Get Free Report) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the previous year, the business earned $1.10 earnings per share. Kellogg’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kellogg will post 4.1 EPS for the current fiscal year.

Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $2.36 dividend on an annualized basis and a yield of 3.54%. Kellogg’s dividend payout ratio is currently 97.52%.

Kellogg Profile

(Free Report)

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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