Wendell David Associates Inc. held its position in shares of Kellogg Company (NYSE:K) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,700 shares of the company’s stock at the end of the second quarter. Wendell David Associates Inc.’s holdings in Kellogg were worth $1,021,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of K. Exane Derivatives raised its stake in Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock valued at $134,000 after buying an additional 1,403 shares in the last quarter. Pathstone Family Office LLC bought a new position in Kellogg during the first quarter worth $143,000. Security National Trust Co. increased its position in Kellogg by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock worth $150,000 after buying an additional 139 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares in the last quarter. Finally, CWM LLC increased its position in Kellogg by 5.3% in the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after buying an additional 117 shares in the last quarter. Institutional investors own 83.60% of the company’s stock.
Shares of Kellogg Company (K) traded down 0.04% during mid-day trading on Friday, hitting $67.65. 1,782,803 shares of the stock were exchanged. Kellogg Company has a 12-month low of $65.32 and a 12-month high of $84.28. The company has a market capitalization of $23.70 billion, a PE ratio of 30.61 and a beta of 0.50. The firm has a 50-day moving average price of $68.96 and a 200 day moving average price of $71.79.
Kellogg (NYSE:K) last issued its earnings results on Thursday, May 4th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. Kellogg had a return on equity of 67.99% and a net margin of 6.07%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. Kellogg’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts expect that Kellogg Company will post $3.92 earnings per share for the current year.
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K has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $62.00 price target on shares of Kellogg and gave the stock a “sell” rating in a research note on Tuesday, June 27th. Credit Suisse Group cut their target price on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, May 5th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $80.00 target price (down previously from $82.00) on shares of Kellogg in a research note on Tuesday, April 25th. Zacks Investment Research lowered shares of Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $69.00 price objective (down from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Kellogg presently has an average rating of “Hold” and a consensus price target of $77.82.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Jenness sold 70,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $71.06, for a total value of $4,974,200.00. The disclosure for this sale can be found here. Insiders have sold 99,900 shares of company stock valued at $7,178,363 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
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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