James M. Jenness Sells 26,592 Shares of Kellogg Company (K) Stock

Kellogg Company (NYSE:K) Director James M. Jenness sold 26,592 shares of Kellogg stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $63.08, for a total value of $1,677,423.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Kellogg Company (K) opened at $65.18 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. The company has a market capitalization of $22,027.33, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. Kellogg Company has a 1 year low of $58.76 and a 1 year high of $76.69.

Kellogg (NYSE:K) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. equities analysts anticipate that Kellogg Company will post 4.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, November 30th. Kellogg’s dividend payout ratio is currently 96.43%.

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Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reduced their price target on Kellogg from $81.00 to $79.00 and set a “sector perform” rating for the company in a report on Tuesday, August 1st. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $76.00 to $78.00 in a report on Friday, August 4th. Susquehanna Bancshares Inc restated a “hold” rating on shares of Kellogg in a report on Thursday, August 3rd. UBS AG reduced their target price on Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Finally, Deutsche Bank AG restated a “hold” rating and issued a $74.00 target price (up from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Kellogg has a consensus rating of “Hold” and a consensus target price of $71.00.

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC increased its position in Kellogg by 94.3% in the 2nd quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock worth $545,047,000 after buying an additional 3,807,425 shares during the period. CIBC World Markets Inc. increased its position in Kellogg by 29.1% in the 2nd quarter. CIBC World Markets Inc. now owns 33,225 shares of the company’s stock worth $2,308,000 after buying an additional 7,487 shares during the period. Cim Investment Mangement Inc. bought a new position in Kellogg in the 2nd quarter worth approximately $563,000. Pacer Advisors Inc. increased its position in Kellogg by 157.0% in the 2nd quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock worth $950,000 after buying an additional 8,353 shares during the period. Finally, Dupont Capital Management Corp bought a new position in Kellogg in the 2nd quarter worth approximately $268,000. 86.61% of the stock is currently owned by institutional investors.

About Kellogg

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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