Legal & General Group Plc Sells 29,918 Shares of Kellogg (K)

Legal & General Group Plc cut its position in shares of Kellogg (NYSE:K) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,398,384 shares of the company’s stock after selling 29,918 shares during the period. Legal & General Group Plc owned 0.40% of Kellogg worth $90,872,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Kellogg by 1.9% during the 1st quarter. BlackRock Inc. now owns 25,146,776 shares of the company’s stock worth $1,634,794,000 after purchasing an additional 457,888 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Kellogg by 30.5% during the 1st quarter. American Century Companies Inc. now owns 4,221,683 shares of the company’s stock worth $274,452,000 after purchasing an additional 985,494 shares during the last quarter. HS Management Partners LLC increased its stake in shares of Kellogg by 36.9% during the 4th quarter. HS Management Partners LLC now owns 2,686,650 shares of the company’s stock worth $182,638,000 after purchasing an additional 723,675 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Kellogg by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 2,659,875 shares of the company’s stock worth $180,444,000 after purchasing an additional 131,169 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Kellogg by 91.6% during the 4th quarter. Millennium Management LLC now owns 1,737,361 shares of the company’s stock worth $118,106,000 after purchasing an additional 830,665 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Thursday, April 5th. Susquehanna Bancshares set a $63.00 price objective on shares of Kellogg and gave the stock a “hold” rating in a research note on Thursday, May 3rd. Stifel Nicolaus reduced their target price on shares of Kellogg from $66.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 4th. Deutsche Bank reduced their target price on shares of Kellogg from $68.00 to $64.00 and set a “hold” rating for the company in a report on Friday, May 4th. Finally, Morgan Stanley reduced their target price on shares of Kellogg from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday, April 18th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and a consensus price target of $70.79.



Kellogg opened at $67.40 on Friday, according to Marketbeat. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $23.18 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51. Kellogg has a 12-month low of $56.40 and a 12-month high of $71.65.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.11. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.30 billion. Kellogg had a net margin of 11.10% and a return on equity of 67.81%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 EPS. research analysts forecast that Kellogg will post 4.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, May 31st. Kellogg’s dividend payout ratio is currently 53.47%.

In other Kellogg news, SVP Amit Banati sold 1,992 shares of the business’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $65.03, for a total value of $129,539.76. Following the completion of the sale, the senior vice president now owns 19,619 shares of the company’s stock, valued at approximately $1,275,823.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 250,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $65.64, for a total transaction of $16,410,000.00. The disclosure for this sale can be found here. Insiders sold a total of 626,992 shares of company stock valued at $39,993,290 in the last three months. Insiders own 1.40% of the company’s stock.

Kellogg Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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