Aviva PLC increased its position in shares of Kellogg Company (NYSE:K) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,300 shares of the company’s stock after buying an additional 3,370 shares during the period. Aviva PLC owned approximately 0.05% of Kellogg worth $12,176,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Washington Trust Bank raised its position in shares of Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after buying an additional 15 shares in the last quarter. Exane Derivatives raised its position in shares of Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares in the last quarter. Pathstone Family Office LLC bought a new position in shares of Kellogg during the first quarter worth approximately $143,000. Security National Trust Co. raised its position in shares of 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. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of 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. 83.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kellogg Company (NYSE:K) opened at 67.71 on Friday. Kellogg Company has a one year low of $65.32 and a one year high of $83.23. The stock’s 50 day moving average price is $68.07 and its 200 day moving average price is $71.33. The firm has a market cap of $23.37 billion, a price-to-earnings ratio of 30.65 and a beta of 0.50.
Kellogg (NYSE:K) last issued its earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Kellogg Company will post $3.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.54 per share. This is a boost from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.19%. Kellogg’s payout ratio is presently 94.12%.
K has been the topic of a number of research analyst reports. UBS AG lowered their target price on Kellogg from $81.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Royal Bank Of Canada lowered their target price on Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 1st. Piper Jaffray Companies set a $78.00 target price on Kellogg and gave the company a “buy” rating in a report on Monday, August 7th. J P Morgan Chase & Co raised Kellogg from a “neutral” rating to an “overweight” rating and raised their target price for the company from $76.00 to $78.00 in a report on Friday, August 4th. Finally, Zacks Investment Research lowered Kellogg from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $74.50.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total transaction of $1,852,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total transaction of $352,163.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
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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