DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Kellogg (NYSE:K) during the first quarter, HoldingsChannel.com reports. The fund purchased 5,641 shares of the company’s stock, valued at approximately $324,000.
Other institutional investors have also bought and sold shares of the company. Acima Private Wealth LLC bought a new stake in Kellogg in the 4th quarter valued at about $25,000. Bruderman Asset Management LLC lifted its position in Kellogg by 275.0% in the 4th quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 319 shares during the last quarter. Murphy Pohlad Asset Management LLC bought a new stake in Kellogg in the 4th quarter valued at about $28,000. Oregon Public Employees Retirement Fund lifted its position in Kellogg by 5,672.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock valued at $28,000 after purchasing an additional 1,541,399 shares during the last quarter. Finally, ERTS Wealth Advisors LLC bought a new stake in Kellogg in the 4th quarter valued at about $34,000. Institutional investors own 86.75% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of Kellogg in a research note on Tuesday, January 22nd. They issued a “neutral” rating and a $58.70 price objective on the stock. Zacks Investment Research upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Royal Bank of Canada restated a “hold” rating and set a $67.00 price target on shares of Kellogg in a report on Wednesday, December 19th. Piper Jaffray Companies set a $69.00 target price on shares of Kellogg and gave the company a “buy” rating in a research note on Friday, February 8th. Finally, Pivotal Research cut shares of Kellogg from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $62.00 in a research note on Friday, February 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $63.04.
NYSE K opened at $58.39 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.70 and a debt-to-equity ratio of 2.60. The company has a market capitalization of $20.07 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 3.30 and a beta of 0.54. Kellogg has a 12-month low of $53.14 and a 12-month high of $74.98.
Kellogg (NYSE:K) last posted its earnings results on Thursday, February 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Kellogg will post 3.93 EPS for the current fiscal year.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $53.98, for a total transaction of $5,398,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 600,000 shares of company stock worth $33,655,000 in the last ninety days. 0.09% of the stock is currently owned by insiders.
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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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