Peoples Financial Services CORP. raised its position in Kellogg (NYSE:K) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,640 shares of the company’s stock after purchasing an additional 1,240 shares during the quarter. Peoples Financial Services CORP.’s holdings in Kellogg were worth $1,071,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of K. Nuveen Asset Management LLC acquired a new position in Kellogg in the 2nd quarter valued at about $54,543,000. Renaissance Technologies LLC boosted its holdings in Kellogg by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,523,983 shares of the company’s stock valued at $295,920,000 after purchasing an additional 623,700 shares during the last quarter. AustralianSuper Pty Ltd boosted its holdings in Kellogg by 275.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 815,645 shares of the company’s stock valued at $43,694,000 after purchasing an additional 598,580 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kellogg by 31.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,978,156 shares of the company’s stock worth $105,970,000 after acquiring an additional 472,686 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC acquired a new position in shares of Kellogg in the 3rd quarter worth approximately $26,115,000. Institutional investors own 88.49% of the company’s stock.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $56.28, for a total transaction of $5,628,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 600,000 shares of company stock worth $37,037,000. 0.09% of the stock is owned by insiders.
Several equities analysts have recently commented on the stock. GMP Securities restated a “buy” rating on shares of Kellogg in a report on Thursday, July 11th. Canaccord Genuity restated an “average” rating on shares of Kellogg in a report on Tuesday, June 25th. Guggenheim upped their price objective on shares of Kellogg from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Consumer Edge lowered shares of Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 price objective on the stock. in a report on Monday, June 24th. Finally, TheStreet upgraded shares of Kellogg from a “c+” rating to a “b-” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. Kellogg has a consensus rating of “Hold” and an average target price of $64.33.
K traded down $0.59 during trading hours on Wednesday, hitting $61.34. 1,461,186 shares of the company’s stock were exchanged, compared to its average volume of 1,579,545. Kellogg has a 12-month low of $51.34 and a 12-month high of $72.98. The firm has a 50 day moving average of $63.20 and a 200 day moving average of $59.00. The firm has a market cap of $21.16 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 4.59 and a beta of 0.53. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 2.67.
Kellogg (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts expect that Kellogg will post 3.87 EPS for the current fiscal year.
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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