Swiss National Bank grew its stake in Kellogg Company (NYSE:K) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,568,489 shares of the company’s stock after purchasing an additional 10,200 shares during the quarter. Swiss National Bank owned approximately 447,781.49% of Kellogg worth $97,827,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Alpha Windward LLC raised its position in shares of Kellogg by 0.4% in the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock valued at $179,000 after purchasing an additional 11 shares during the period. Washington Trust Bank grew its stake in shares of 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 acquiring an additional 15 shares in the last quarter. FTB Advisors Inc. grew its stake in shares of Kellogg by 0.5% in the second quarter. FTB Advisors Inc. now owns 3,648 shares of the company’s stock valued at $251,000 after acquiring an additional 17 shares in the last quarter. Guyasuta Investment Advisors Inc. grew its stake in shares of Kellogg by 0.5% in the second quarter. Guyasuta Investment Advisors Inc. now owns 7,498 shares of the company’s stock valued at $521,000 after acquiring an additional 40 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its stake in shares of Kellogg by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 3,411 shares of the company’s stock valued at $237,000 after acquiring an additional 48 shares in the last quarter. 85.15% of the stock is currently owned by institutional investors.
In related news, CEO Steven A. Cahillane purchased 15,930 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were bought at an average cost of $62.70 per share, for a total transaction of $998,811.00. Following the transaction, the chief executive officer now directly owns 15,930 shares of the company’s stock, valued at approximately $998,811. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Donald R. Knauss sold 6,846 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total transaction of $428,354.22. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $312,850. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Kellogg Company (NYSE K) opened at $64.70 on Friday. The stock has a market cap of $21,861.51, a P/E ratio of 15.82, a P/E/G ratio of 2.55 and a beta of 0.49. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. Kellogg Company has a fifty-two week low of $58.76 and a fifty-two week high of $76.69.
Kellogg (NYSE:K) last posted its earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period last year, the business posted $0.96 EPS. Kellogg’s revenue was up .6% compared to the same quarter last year. equities analysts expect that Kellogg Company will post 4.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.34%. Kellogg’s payout ratio is presently 96.43%.
A number of equities research analysts have issued reports on K shares. Piper Jaffray Companies set a $78.00 price objective on shares of Kellogg and gave the stock a “buy” rating in a research note on Monday, August 7th. Buckingham Research reduced their price objective on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Morgan Stanley reiterated an “equal weight” rating and set a $69.00 price objective (down from $74.00) on shares of Kellogg in a research note on Tuesday, July 18th. Zacks Investment Research downgraded shares of Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Kellogg in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.00.
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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