DNB Asset Management AS lessened its position in shares of Kellogg (NYSE:K) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,646 shares of the company’s stock after selling 4,385 shares during the quarter. DNB Asset Management AS’s holdings in Kellogg were worth $1,931,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Bruderman Asset Management LLC increased its position in Kellogg by 275.0% in the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after buying an additional 319 shares in the last quarter. Acima Private Wealth LLC purchased a new stake in Kellogg in the fourth quarter worth about $25,000. Murphy Pohlad Asset Management LLC purchased a new stake in Kellogg in the fourth quarter worth about $28,000. ERTS Wealth Advisors LLC purchased a new stake in Kellogg in the fourth quarter worth about $34,000. Finally, Capital Financial Planning LLC purchased a new stake in Kellogg in the fourth quarter worth about $34,000. Institutional investors own 86.75% of the company’s stock.
A number of equities analysts recently commented on K shares. Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. BMO Capital Markets dropped their price target on Kellogg to $62.00 and set a “market perform” rating for the company in a research note on Friday, February 8th. Piper Jaffray Companies dropped their price target on Kellogg from $69.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. Buckingham Research set a $67.00 price objective on Kellogg and gave the company a “buy” rating in a research report on Friday, February 8th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Kellogg in a research report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $63.04.
Shares of NYSE K opened at $58.39 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.40 and a debt-to-equity ratio of 2.60. Kellogg has a fifty-two week low of $53.14 and a fifty-two week high of $74.98. The company has a market capitalization of $20.07 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 3.30 and a beta of 0.54.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Kellogg will post 3.93 earnings per share for the current year.
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Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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