Tower Research Capital LLC TRC Has $412,000 Holdings in Kellogg (NYSE:K)

Posted by on Aug 23rd, 2023

Tower Research Capital LLC TRC grew its position in Kellogg (NYSE:K – Free Report) by 30.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,149 shares of the company’s stock after acquiring an additional 1,431 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Kellogg were worth $412,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. ING Groep NV increased its position in Kellogg by 460.8% in the 1st quarter. ING Groep NV now owns 29,110 shares of the company’s stock worth $1,949,000 after purchasing an additional 23,919 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of Kellogg by 13.8% during the 1st quarter. Wedbush Securities Inc. now owns 4,208 shares of the company’s stock valued at $282,000 after acquiring an additional 510 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Kellogg by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,425,263 shares of the company’s stock valued at $162,396,000 after acquiring an additional 152,974 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Kellogg by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 567,012 shares of the company’s stock valued at $37,900,000 after acquiring an additional 1,823 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Kellogg by 2.6% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 48,103 shares of the company’s stock valued at $3,221,000 after acquiring an additional 1,200 shares during the last quarter. 83.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 54,531,838 shares in the company, valued at approximately $3,683,625,656.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 600,000 shares of company stock worth $39,088,000 in the last 90 days. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on K shares. JPMorgan Chase & Co. lowered their price objective on Kellogg from $73.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, August 10th. Sanford C. Bernstein upgraded Kellogg from an “underperform” rating to a “market perform” rating and set a $62.00 target price for the company in a research note on Thursday, June 22nd. Barclays decreased their target price on Kellogg from $74.00 to $69.00 and set an “underweight” rating for the company in a research note on Friday, August 11th. UBS Group increased their target price on Kellogg from $73.00 to $74.00 in a research note on Friday, May 5th. Finally, StockNews.com assumed coverage on Kellogg in a research note on Thursday, August 17th. They set a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.42.

Read Our Latest Stock Analysis on K

Kellogg Price Performance

Shares of K stock opened at $60.76 on Wednesday. The stock has a 50 day moving average of $65.91 and a two-hundred day moving average of $66.91. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.20. Kellogg has a 12 month low of $60.71 and a 12 month high of $77.17. The company has a market capitalization of $20.80 billion, a P/E ratio of 24.30, a P/E/G ratio of 4.14 and a beta of 0.41.

Kellogg (NYSE:K – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.11 by $0.14. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kellogg had a return on equity of 33.33% and a net margin of 5.46%. As a group, equities analysts expect that Kellogg will post 4.14 EPS for the current year.

Kellogg Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, August 31st. This is an increase from Kellogg’s previous quarterly dividend of $0.59. Kellogg’s dividend payout ratio (DPR) is 94.40%.

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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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