Kellogg (NYSE:K) Shares Sold by Natixis Advisors L.P.

Posted by Defense World Staff on Sep 2nd, 2023

Natixis Advisors L.P. reduced its position in Kellogg (NYSE:K – Free Report) by 61.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,262 shares of the company’s stock after selling 85,020 shares during the period. Natixis Advisors L.P.’s holdings in Kellogg were worth $3,566,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Kellogg by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after purchasing an additional 646,828 shares during the last quarter. State Street Corp raised its holdings in shares of Kellogg by 2.6% in the first quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after acquiring an additional 369,620 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Kellogg by 1.6% in 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 last quarter. Finally, Invesco Ltd. increased its position in Kellogg by 6.3% during the 1st quarter. Invesco Ltd. now owns 5,137,164 shares of the company’s stock worth $331,296,000 after purchasing an additional 302,388 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent research reports. StockNews.com began coverage on shares of Kellogg in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Barclays cut their price target on Kellogg from $74.00 to $69.00 and set an “underweight” rating for the company in a report on Friday, August 11th. JPMorgan Chase & Co. decreased 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. Deutsche Bank Aktiengesellschaft increased their target price on Kellogg from $60.00 to $71.00 in a research report on Friday, May 5th. Finally, UBS Group lifted their price target on Kellogg from $73.00 to $74.00 in a report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.42.

Get Our Latest Stock Analysis on Kellogg

Kellogg Trading Down 1.9 %

NYSE K opened at $59.89 on Friday. The firm has a market capitalization of $20.50 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 4.11 and a beta of 0.41. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.40 and a current ratio of 0.66. Kellogg has a one year low of $59.73 and a one year high of $77.17. The company’s 50 day moving average price is $65.15 and its 200 day moving average price is $66.54.

Kellogg (NYSE:K – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.14. Kellogg had a net margin of 5.46% and a return on equity of 33.33%. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.05 billion. On average, sell-side analysts predict that Kellogg will post 4.14 EPS for the current year.

Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Thursday, August 31st. This is a boost from Kellogg’s previous quarterly dividend of $0.59. Kellogg’s dividend payout ratio is currently 96.00%.

Insider Activity

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $65.94, for a total value of $6,594,000.00. Following the completion of the transaction, the insider now directly owns 54,731,838 shares of the company’s stock, valued at approximately $3,609,017,397.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 600,000 shares of company stock worth $39,088,000 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Kellogg Company 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.