WEALTHFRONT Corp lifted its stake in Kellogg (NYSE:K) by 21.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,101 shares of the company’s stock after acquiring an additional 2,459 shares during the quarter. WEALTHFRONT Corp’s holdings in Kellogg were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Honkamp Krueger Financial Services Inc. bought a new stake in Kellogg during the third quarter valued at approximately $101,000. LFA Lugano Financial Advisors SA bought a new stake in Kellogg during the second quarter valued at approximately $103,000. Integrated Investment Consultants LLC bought a new stake in Kellogg during the second quarter valued at approximately $110,000. Financial Architects Inc bought a new stake in Kellogg during the third quarter valued at approximately $111,000. Finally, CSat Investment Advisory L.P. bought a new stake in Kellogg during the second quarter valued at approximately $127,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.
In related news, CFO Fareed A. Khan bought 8,190 shares of the stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average price of $62.14 per share, with a total value of $508,926.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 215,000 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $74.61, for a total transaction of $16,041,150.00. The disclosure for this sale can be found here. Insiders have sold 600,000 shares of company stock worth $41,536,950 in the last ninety days. Insiders own 1.40% of the company’s stock.
Shares of NYSE:K opened at $60.84 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.52 and a debt-to-equity ratio of 2.41. Kellogg has a 1-year low of $56.40 and a 1-year high of $74.98. The company has a market cap of $21.26 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 2.30 and a beta of 0.51.
Kellogg (NYSE:K) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the firm earned $1.03 EPS. Kellogg’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Kellogg will post 4.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, November 30th. Kellogg’s dividend payout ratio is currently 55.45%.
Several brokerages recently issued reports on K. Zacks Investment Research restated a “sell” rating on shares of Kellogg in a research report on Tuesday, November 13th. Buckingham Research cut their target price on shares of Kellogg from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. ValuEngine upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Citigroup cut their target price on shares of Kellogg from $79.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Finally, Deutsche Bank set a $66.00 target price on shares of Kellogg and gave the company a “hold” rating in a research report on Wednesday, November 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $70.22.
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Kellogg Company Profile
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.
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