ERTS Wealth Advisors LLC purchased a new stake in Kellogg (NYSE:K) during the 4th quarter, Holdings Channel reports. The fund purchased 600 shares of the company’s stock, valued at approximately $34,000.
A number of other hedge funds also recently made changes to their positions in K. Acima Private Wealth LLC acquired a new position in Kellogg in the fourth quarter worth $25,000. Bruderman Asset Management LLC boosted its stake in Kellogg by 275.0% in the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 319 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Kellogg by 5,672.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock worth $28,000 after purchasing an additional 1,541,399 shares in the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in Kellogg in the fourth quarter worth $28,000. Finally, JOYN Advisors Inc. boosted its stake in Kellogg by 38.9% in the fourth quarter. JOYN Advisors Inc. now owns 660 shares of the company’s stock worth $38,000 after purchasing an additional 185 shares in the last quarter. 85.33% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $58.24, for a total value of $5,824,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 600,000 shares of company stock valued at $34,087,000 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada restated a “hold” rating and set a $67.00 target price on shares of Kellogg in a research report on Wednesday, December 19th. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Guggenheim assumed coverage on Kellogg in a research report on Tuesday, January 22nd. They set a “neutral” rating and a $58.70 target price for the company. ValuEngine downgraded Kellogg from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Finally, Pivotal Research downgraded Kellogg from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $62.00 in a research report on Friday, February 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.92.
NYSE K opened at $53.81 on Friday. The stock has a market capitalization of $18.63 billion, a P/E ratio of 12.43, a P/E/G ratio of 3.25 and a beta of 0.54. The company has a quick ratio of 0.40, a current ratio of 0.70 and a debt-to-equity ratio of 2.60. Kellogg has a 12 month low of $53.14 and a 12 month high of $74.98.
Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, February 7th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.31 billion. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities research analysts predict that Kellogg will post 3.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, March 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $2.24 dividend on an annualized basis and a yield of 4.16%. Kellogg’s dividend payout ratio is presently 51.73%.
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Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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