Teachers Retirement System of The State of Kentucky continued to hold its stake in Kellogg Company (NYSE:K) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,500 shares of the company’s stock at the close of the 2nd quarter. Teachers Retirement System of The State of Kentucky’s holdings in Kellogg were worth $1,910,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Washington Trust Bank lifted its holdings in shares of Kellogg by 0.8% during the 2nd quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after acquiring an additional 15 shares during the period. Pathstone Family Office LLC acquired a new stake in shares of Kellogg in the first quarter worth approximately $143,000. Exane Derivatives boosted its position in shares of Kellogg by 24.2% in the second quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after acquiring an additional 448 shares during the last quarter. CWM LLC boosted its position in shares of Kellogg by 5.3% in the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after acquiring an additional 117 shares during the last quarter. Finally, Alpha Windward LLC boosted 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 worth $179,000 after acquiring an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 85.40% of the company’s stock.
Several equities analysts recently commented on K shares. UBS AG reaffirmed a “neutral” rating and set a $72.00 price target (down previously from $76.00) on shares of Kellogg in a research report on Tuesday, July 18th. BMO Capital Markets decreased their price target on shares of Kellogg from $85.00 to $78.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. Royal Bank Of Canada decreased their price target on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 1st. Susquehanna Bancshares Inc reissued a “hold” rating on shares of Kellogg in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $74.00 price objective (up from $71.00) on shares of Kellogg in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $74.50.
Kellogg Company (NYSE K) opened at 62.02 on Wednesday. Kellogg Company has a 12-month low of $61.70 and a 12-month high of $78.37. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of 28.08 and a beta of 0.48. The company’s 50 day moving average is $66.69 and its 200 day moving average is $69.60.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. On average, equities analysts anticipate that Kellogg Company will post $3.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.48%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, August 30th. Kellogg’s payout ratio is currently 97.74%.
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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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