Norinchukin Bank The grew its stake in shares of Kellogg Company (NYSE:K) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,216 shares of the company’s stock after acquiring an additional 1,715 shares during the quarter. Norinchukin Bank The’s holdings in Kellogg were worth $1,199,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Koch Industries Inc. purchased a new stake in shares of Kellogg during the second quarter valued at $217,000. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of Kellogg during the second quarter valued at $222,000. Parametrica Management Ltd purchased a new stake in shares of Kellogg during the second quarter valued at $227,000. Cetera Investment Advisers purchased a new stake in shares of Kellogg during the second quarter valued at $231,000. Finally, Airain ltd purchased a new stake in shares of Kellogg during the second quarter valued at $233,000. 86.85% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the company. Royal Bank Of Canada set a $81.00 target price on Kellogg and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Piper Jaffray Companies cut Kellogg from an “overweight” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Tuesday, September 19th. Credit Suisse Group dropped their target price on Kellogg from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. BMO Capital Markets reissued a “hold” rating and issued a $78.00 target price on shares of Kellogg in a research report on Wednesday, September 6th. Finally, Buckingham Research dropped their target price on Kellogg from $79.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Kellogg currently has a consensus rating of “Hold” and an average price target of $71.15.
In related news, Chairman John A. Bryant sold 190,000 shares of Kellogg stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $63.01, for a total transaction of $11,971,900.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of Kellogg stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.11, for a total value of $2,898,371.65. Following the sale, the insider now directly 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. Over the last ninety days, insiders have sold 267,953 shares of company stock worth $16,976,049. Insiders own 1.30% of the company’s stock.
Kellogg Company (K) opened at $64.93 on Monday. Kellogg Company has a 12-month low of $58.76 and a 12-month high of $76.69. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.43 and a current ratio of 0.68. The firm has a market capitalization of $22,410.00, a PE ratio of 16.23, a PEG ratio of 2.62 and a beta of 0.49.
Kellogg (NYSE:K) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. sell-side analysts predict that Kellogg Company will post 4.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.33%. Kellogg’s payout ratio is currently 96.43%.
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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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