Alberta Investment Management Corp decreased its holdings in Kellogg (NYSE:K) by 75.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,800 shares of the company’s stock after selling 228,300 shares during the period. Alberta Investment Management Corp’s holdings in Kellogg were worth $4,427,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of K. Wetherby Asset Management Inc. grew its stake in shares of Kellogg by 5.2% during the fourth quarter. Wetherby Asset Management Inc. now owns 3,343 shares of the company’s stock worth $231,000 after purchasing an additional 166 shares in the last quarter. Profund Advisors LLC boosted its stake in Kellogg by 3.7% in the fourth quarter. Profund Advisors LLC now owns 4,812 shares of the company’s stock valued at $333,000 after acquiring an additional 171 shares in the last quarter. Utah Retirement Systems boosted its stake in Kellogg by 0.4% in the fourth quarter. Utah Retirement Systems now owns 46,900 shares of the company’s stock valued at $3,243,000 after acquiring an additional 200 shares in the last quarter. Independent Advisor Alliance boosted its stake in Kellogg by 2.1% in the fourth quarter. Independent Advisor Alliance now owns 10,365 shares of the company’s stock valued at $717,000 after acquiring an additional 216 shares in the last quarter. Finally, Coastal Investment Advisors Inc. boosted its stake in Kellogg by 26.3% in the fourth quarter. Coastal Investment Advisors Inc. now owns 1,041 shares of the company’s stock valued at $68,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.
NYSE K opened at $61.37 on Friday. The stock has a market capitalization of $21.41 billion, a P/E ratio of 20.53, a P/E/G ratio of 4.30 and a beta of 0.57. Kellogg has a 52-week low of $51.34 and a 52-week high of $71.05. The firm has a 50-day moving average price of $63.74 and a 200 day moving average price of $65.16. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 2.38.
Kellogg (NYSE:K) last issued its earnings results on Thursday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.04. Kellogg had a net margin of 7.61% and a return on equity of 41.25%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Kellogg will post 3.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.28 annualized dividend and a dividend yield of 3.72%. Kellogg’s dividend payout ratio is presently 57.87%.
Several equities analysts have issued reports on K shares. ValuEngine upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research note on Monday, March 9th. Sanford C. Bernstein upgraded shares of Kellogg from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $51.00 to $66.00 in a research note on Wednesday, March 18th. JPMorgan Chase & Co. upped their target price on shares of Kellogg from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Buckingham Research reduced their target price on shares of Kellogg from $78.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating and set a $69.00 target price for the company. in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.88.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $62.14, for a total value of $6,214,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 300,000 shares of company stock worth $18,612,000 over the last quarter. Company insiders own 1.10% of the company’s stock.
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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