Glenmede Trust Co. NA lowered its holdings in Kellogg (NYSE:K) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,739 shares of the company’s stock after selling 32,537 shares during the period. Glenmede Trust Co. NA owned about 0.07% of Kellogg worth $15,685,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nationwide Fund Advisors boosted its holdings in shares of Kellogg by 26.3% in the third quarter. Nationwide Fund Advisors now owns 405,829 shares of the company’s stock worth $25,312,000 after buying an additional 84,474 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Kellogg by 19.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 62,595 shares of the company’s stock worth $3,904,000 after buying an additional 10,073 shares during the period. Sei Investments Co. boosted its holdings in shares of Kellogg by 49.8% in the third quarter. Sei Investments Co. now owns 109,808 shares of the company’s stock worth $6,848,000 after buying an additional 36,488 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Kellogg by 1.7% in the third quarter. New York State Common Retirement Fund now owns 538,200 shares of the company’s stock worth $33,568,000 after buying an additional 9,000 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Kellogg by 11.6% in the third quarter. Teacher Retirement System of Texas now owns 8,901 shares of the company’s stock worth $555,000 after buying an additional 926 shares during the period. 91.85% of the stock is currently owned by institutional investors.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 13,845 shares of Kellogg stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $67.68, for a total value of $937,029.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $69.47, for a total transaction of $14,241,350.00. The disclosure for this sale can be found here. Insiders sold 623,763 shares of company stock valued at $42,787,777 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
Shares of Kellogg stock opened at $63.68 on Thursday. The company has a debt-to-equity ratio of 3.52, a current ratio of 0.68 and a quick ratio of 0.41. The stock has a market cap of $22,930.05, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.04 and a beta of 0.48. Kellogg has a one year low of $58.76 and a one year high of $74.28.
Kellogg (NYSE:K) last posted its earnings results on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.96. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. equities research analysts predict that Kellogg will post 4.45 EPS for the current fiscal year.
Kellogg declared that its Board of Directors has initiated a share buyback program on Friday, December 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Friday, March 2nd. Kellogg’s dividend payout ratio (DPR) is presently 59.67%.
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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