Teachers Advisors LLC cut its position in shares of Kellogg Company (NYSE:K) by 48.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 610,782 shares of the company’s stock after selling 579,114 shares during the period. Teachers Advisors LLC owned approximately 0.17% of Kellogg worth $44,349,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in Kellogg by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 566,544 shares of the company’s stock worth $41,761,000 after buying an additional 18,532 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Kellogg by 2.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 875,643 shares of the company’s stock valued at $64,543,000 after buying an additional 18,768 shares during the last quarter. Suntrust Banks Inc. raised its position in shares of Kellogg by 5.3% in the first quarter. Suntrust Banks Inc. now owns 51,229 shares of the company’s stock valued at $3,718,000 after buying an additional 2,594 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Kellogg by 28.8% in the first quarter. Toronto Dominion Bank now owns 108,255 shares of the company’s stock valued at $7,866,000 after buying an additional 24,223 shares during the last quarter. Finally, Advisor Partners LLC raised its position in shares of Kellogg by 19.7% in the first quarter. Advisor Partners LLC now owns 3,995 shares of the company’s stock valued at $290,000 after buying an additional 657 shares during the last quarter. 83.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kellogg Company (K) traded down 0.04% during midday trading on Friday, hitting $67.65. 1,787,928 shares of the company were exchanged. The company’s 50 day moving average price is $68.83 and its 200 day moving average price is $71.76. The firm has a market cap of $23.70 billion, a P/E ratio of 30.61 and a beta of 0.50. Kellogg Company has a one year low of $65.32 and a one year high of $84.28.
Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. Kellogg had a return on equity of 67.99% and a net margin of 6.07%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Equities analysts expect that Kellogg Company will post $3.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.19%. This is a boost from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 30th. Kellogg’s dividend payout ratio is 94.55%.
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Several research analysts have recently weighed in on K shares. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $80.00 price objective (down from $82.00) on shares of Kellogg in a report on Tuesday, April 25th. Royal Bank Of Canada cut their price objective on shares of Kellogg from $84.00 to $81.00 and set a “sector perform” rating on the stock in a report on Friday, May 5th. UBS AG dropped their target price on shares of Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a research report on Friday, May 5th. Credit Suisse Group dropped their target price on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, May 5th. Finally, TheStreet raised shares of Kellogg from a “c+” rating to a “b+” rating in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.82.
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 stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was 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. In the last three months, insiders sold 99,900 shares of company stock worth $7,178,363. Insiders own 1.30% of the company’s stock.
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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