MAI Capital Management reduced its position in shares of Kellogg (NYSE:K – Free Report) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,513 shares of the company’s stock after selling 581 shares during the quarter. MAI Capital Management’s holdings in Kellogg were worth $905,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in K. Czech National Bank raised its stake in Kellogg by 0.6% in the 1st quarter. Czech National Bank now owns 30,144 shares of the company’s stock valued at $2,018,000 after acquiring an additional 184 shares during the period. Auto Owners Insurance Co acquired a new stake in shares of Kellogg during the 4th quarter worth about $9,625,000. Moors & Cabot Inc. boosted its holdings in shares of Kellogg by 8.2% during the 4th quarter. Moors & Cabot Inc. now owns 6,534 shares of the company’s stock worth $465,000 after buying an additional 495 shares during the period. Commerce Bank grew its stake in Kellogg by 1.5% in the 1st quarter. Commerce Bank now owns 21,865 shares of the company’s stock valued at $1,464,000 after buying an additional 322 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Kellogg by 5.6% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 46,903 shares of the company’s stock valued at $3,342,000 after acquiring an additional 2,495 shares during the period. Institutional investors and hedge funds own 83.22% of the company’s stock.
Kellogg Price Performance
K stock opened at $61.85 on Monday. The company’s 50-day moving average price is $66.09 and its two-hundred day moving average price is $67.00. Kellogg has a 12 month low of $61.41 and a 12 month high of $77.17. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market cap of $21.17 billion, a P/E ratio of 24.74, a P/E/G ratio of 4.14 and a beta of 0.41.
Kellogg Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This is a positive change from Kellogg’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.88%. Kellogg’s dividend payout ratio (DPR) is 96.00%.
Insider Buying and Selling at Kellogg
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $67.55, for a total transaction of $6,755,000.00. Following the sale, the insider now directly owns 54,531,838 shares of the company’s stock, valued at approximately $3,683,625,656.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 500,000 shares of company stock worth $32,978,000 over the last 90 days. Insiders own 1.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on K. Deutsche Bank Aktiengesellschaft boosted their price objective on Kellogg from $60.00 to $71.00 in a report on Friday, May 5th. TheStreet raised Kellogg from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Sanford C. Bernstein upgraded Kellogg from an “underperform” rating to a “market perform” rating and set a $62.00 price objective on the stock in a research report on Thursday, June 22nd. Morgan Stanley reduced their target price on shares of Kellogg from $73.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, August 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Kellogg from $73.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $70.42.
Check Out Our Latest Stock Analysis on Kellogg
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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