Ameritas Advisory Services LLC trimmed its holdings in shares of Kellogg (NYSE:K – Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,195 shares of the company’s stock after selling 273 shares during the period. Ameritas Advisory Services LLC’s holdings in Kellogg were worth $351,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Ronald Blue Trust Inc. boosted its position in shares of Kellogg by 120.0% during 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 bought a new position in shares of Kellogg in the fourth quarter valued at $28,000. RFP Financial Group LLC bought a new stake in shares of Kellogg during the 4th quarter worth $32,000. Prestige Wealth Management Group LLC grew its holdings in shares of Kellogg by 72.6% in the 4th quarter. Prestige Wealth Management Group LLC now owns 459 shares of the company’s stock worth $33,000 after acquiring an additional 193 shares during the last quarter. Finally, Tanglewood Legacy Advisors LLC acquired a new stake in shares of Kellogg during the fourth quarter worth $36,000. 83.22% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
K has been the topic of a number of analyst reports. The Goldman Sachs Group raised Kellogg from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $78.00 to $83.00 in a research note on Tuesday, June 27th. Barclays boosted their target price on shares of Kellogg from $72.00 to $74.00 in a research note on Monday, May 8th. TheStreet upgraded Kellogg from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. 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. Finally, Sanford C. Bernstein upgraded Kellogg from an “underperform” rating to a “market perform” rating and set a $62.00 price objective for the company in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.08.
Kellogg Price Performance
Kellogg (NYSE:K – Get Free Report) last announced its earnings results on Thursday, May 4th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Kellogg had a return on equity of 32.09% and a net margin of 5.33%. 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 business earned $1.10 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. On average, analysts anticipate that Kellogg will post 4.1 earnings per share for the current fiscal year.
Kellogg Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Wednesday, May 31st. Kellogg’s dividend payout ratio (DPR) is 97.52%.
Insider Transactions at Kellogg
In other Kellogg news, SVP Kris Bahner sold 3,483 shares of the firm’s stock in a transaction that occurred 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $67.55, for a total transaction of $6,755,000.00. Following the transaction, the insider now directly owns 54,531,838 shares in the company, valued at $3,683,625,656.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kris Bahner sold 3,483 shares of the business’s 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 sale, the senior vice president now owns 18,013 shares in the company, valued at $1,279,103.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 603,483 shares of company stock worth $40,757,328. Company insiders own 1.40% of the company’s stock.
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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