Nationwide Fund Advisors Has $25.31 Million Stake in Kellogg Company (K)

Nationwide Fund Advisors lifted its position in shares of Kellogg Company (NYSE:K) by 26.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,829 shares of the company’s stock after purchasing an additional 84,474 shares during the quarter. Nationwide Fund Advisors owned 0.12% of Kellogg worth $25,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Koch Industries Inc. purchased a new position in shares of Kellogg during the 2nd quarter valued at approximately $217,000. Raab & Moskowitz Asset Management LLC purchased a new position in shares of Kellogg during the 2nd quarter valued at approximately $222,000. Parametrica Management Ltd purchased a new position in shares of Kellogg during the 2nd quarter valued at approximately $227,000. Cetera Investment Advisers purchased a new position in shares of Kellogg during the 2nd quarter valued at approximately $231,000. Finally, Airain ltd purchased a new position in shares of Kellogg during the 2nd quarter valued at approximately $233,000. 86.85% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Steven A. Cahillane purchased 15,930 shares of Kellogg stock in a transaction dated Thursday, November 2nd. The shares were acquired at an average price of $62.70 per share, for a total transaction of $998,811.00. Following the acquisition, the chief executive officer now directly owns 15,930 shares in the company, valued at $998,811. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of Kellogg stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $65.11, for a total value of $2,898,371.65. Following the transaction, the insider now owns 67,887,323 shares in the company, valued at approximately $4,420,143,600.53. The disclosure for this sale can be found here. Insiders sold a total of 267,953 shares of company stock worth $16,976,049 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Kellogg Company (NYSE K) opened at $64.93 on Friday. 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 firm has a market capitalization of $22,431.56, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.49. Kellogg Company has a fifty-two week low of $58.76 and a fifty-two week high of $76.69.

Kellogg (NYSE:K) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. equities research analysts forecast that Kellogg Company will post 4.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.54 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.33%. Kellogg’s payout ratio is currently 96.43%.

A number of brokerages have recently issued reports on K. Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Kellogg in a research report on Thursday, August 3rd. Royal Bank Of Canada decreased their target price on Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 1st. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating and increased their target price for the company from $76.00 to $78.00 in a research report on Friday, August 4th. UBS AG decreased their target price on Kellogg from $72.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $85.00 target price on shares of Kellogg in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Kellogg currently has an average rating of “Hold” and an average target price of $71.15.

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Kellogg 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.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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