Kellogg Company (NYSE:K) Shares Bought by IFP Advisors Inc

IFP Advisors Inc raised its stake in Kellogg Company (NYSE:K) by 10.7% during the second quarter, Holdings Channel reports. The institutional investor owned 17,330 shares of the company’s stock after buying an additional 1,677 shares during the period. IFP Advisors Inc’s holdings in Kellogg were worth $1,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Washington Trust Bank increased its stake in Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after buying an additional 15 shares during the period. Exane Derivatives increased 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 during the period. Pathstone Family Office LLC purchased a new stake in Kellogg during the first quarter valued at about $143,000. Security National Trust Co. increased its stake in Kellogg by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock valued at $150,000 after buying an additional 139 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake 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 valued at $161,000 after buying an additional 31 shares during the period. Institutional investors own 83.53% of the company’s stock.

Shares of Kellogg Company (K) opened at 69.22 on Wednesday. Kellogg Company has a 52-week low of $65.32 and a 52-week high of $84.28. The stock’s 50 day moving average price is $68.54 and its 200-day moving average price is $71.70. The company has a market capitalization of $24.25 billion, a P/E ratio of 31.32 and a beta of 0.50.

Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts expect that Kellogg Company will post $3.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.54 dividend. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Wednesday, August 30th. Kellogg’s dividend payout ratio (DPR) is presently 94.12%.

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Several research firms recently issued reports on K. UBS AG reduced their price target on Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a research note on Friday, May 5th. Royal Bank Of Canada reduced their price target on Kellogg from $81.00 to $79.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 1st. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating in a research note on Friday, August 4th. Susquehanna Bancshares Inc restated a “hold” rating on shares of Kellogg in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and a consensus target price of $74.67.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of Kellogg stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Dillon sold 4,900 shares of Kellogg stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

About Kellogg

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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