Kellogg (NYSE:K – Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellogg stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $59.66, for a total transaction of $4,641,548.00. Following the completion of the transaction, the insider now directly owns 54,176,238 shares in the company, valued at approximately $3,232,154,359.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Kellogg Stock Performance
Shares of NYSE K opened at $59.96 on Friday. 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 $58.81 and a 12 month high of $77.17. The company has a 50 day simple moving average of $63.60 and a two-hundred day simple moving average of $65.97. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 3.95 and a beta of 0.42.
Kellogg (NYSE:K – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.25 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.05 billion. As a group, analysts predict that Kellogg will post 4.14 earnings per share for the current year.
Kellogg Increases Dividend
Hedge Funds Weigh In On Kellogg
Large investors have recently made changes to their positions in the company. ICW Investment Advisors LLC raised its position in Kellogg by 3.3% during the first quarter. ICW Investment Advisors LLC now owns 4,506 shares of the company’s stock worth $302,000 after acquiring an additional 142 shares during the period. Parkside Financial Bank & Trust raised its position in Kellogg by 48.0% during the first quarter. Parkside Financial Bank & Trust now owns 453 shares of the company’s stock worth $30,000 after acquiring an additional 147 shares during the period. JLB & Associates Inc. raised its position in Kellogg by 0.6% during the first quarter. JLB & Associates Inc. now owns 24,716 shares of the company’s stock worth $1,655,000 after acquiring an additional 150 shares during the period. Fifth Third Bancorp raised its position in Kellogg by 1.1% during the second quarter. Fifth Third Bancorp now owns 15,107 shares of the company’s stock worth $1,018,000 after acquiring an additional 158 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Kellogg by 0.3% during the first quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock worth $170,000 after buying an additional 159 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on K. Barclays cut their price objective on shares of Kellogg from $74.00 to $69.00 and set an “underweight” rating on the stock in a research report on Friday, August 11th. Sanford C. Bernstein raised shares of 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. JPMorgan Chase & Co. dropped their target price 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. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of Kellogg in a research report on Wednesday. Finally, 22nd Century Group reissued an “upgrade” rating on shares of Kellogg in a research report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $69.86.
Read Our Latest Report on Kellogg
About Kellogg
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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