Kellogg (NYSE:K) Vice Chairman Gary H. Pilnick sold 4,400 shares of Kellogg stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $67.55, for a total transaction of $297,220.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Kellogg (K) traded down $0.64 during midday trading on Wednesday, reaching $69.00. The company’s stock had a trading volume of 2,552,848 shares, compared to its average volume of 3,048,875. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 3.52. The firm has a market cap of $23,890.00, a P/E ratio of 19.00, a PEG ratio of 2.15 and a beta of 0.48. Kellogg has a 12-month low of $58.76 and a 12-month high of $75.31.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.96. The firm had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.10 billion. Kellogg had a return on equity of 70.35% and a net margin of 9.82%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. research analysts forecast that Kellogg will post 4.45 earnings per share for the current fiscal year.
Kellogg declared that its board has authorized a stock buyback plan on Friday, December 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, March 5th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $2.16 annualized dividend and a yield of 3.13%. Kellogg’s dividend payout ratio (DPR) is presently 59.34%.
Several brokerages have commented on K. Morgan Stanley boosted their price target on shares of Kellogg from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Susquehanna Bancshares set a $69.00 price target on shares of Kellogg and gave the stock a “hold” rating in a research report on Monday, February 5th. Piper Jaffray Companies upgraded shares of Kellogg from a “neutral” rating to an “overweight” rating and set a $80.00 price target on the stock in a research report on Wednesday, February 28th. Citigroup boosted their price target on shares of Kellogg from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Credit Suisse Group boosted their price target on shares of Kellogg from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $73.69.
Large investors have recently added to or reduced their stakes in the business. Sun Life Financial INC grew its stake in Kellogg by 73.4% during the 4th quarter. Sun Life Financial INC now owns 23,795 shares of the company’s stock valued at $1,617,000 after acquiring an additional 10,069 shares in the last quarter. Flippin Bruce & Porter Inc. purchased a new position in Kellogg during the 4th quarter valued at about $3,647,000. Swiss National Bank grew its stake in Kellogg by 0.7% during the 3rd quarter. Swiss National Bank now owns 1,568,489 shares of the company’s stock valued at $97,827,000 after acquiring an additional 10,200 shares in the last quarter. Bbva Compass Bancshares Inc. grew its stake in Kellogg by 21.9% during the 4th quarter. Bbva Compass Bancshares Inc. now owns 6,305 shares of the company’s stock valued at $429,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Kellogg by 10.9% in the 3rd quarter. Toronto Dominion Bank now owns 142,516 shares of the company’s stock valued at $8,893,000 after buying an additional 14,013 shares in the last quarter. 91.89% of the stock is currently owned by institutional investors.
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Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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