Kellogg (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 83,333 Shares

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the business’s stock in a transaction that occurred on Thursday, June 10th. The stock was sold at an average price of $65.05, for a total value of $5,420,811.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellogg W. K. Foundation Trust also recently made the following trade(s):

  • On Monday, May 10th, Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock. The stock was sold at an average price of $67.55, for a total value of $5,629,144.15.
  • On Tuesday, April 20th, Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock. The stock was sold at an average price of $64.09, for a total value of $5,340,876.06.
  • On Monday, April 12th, Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock. The stock was sold at an average price of $63.22, for a total value of $5,268,312.26.
  • On Monday, March 22nd, Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock. The stock was sold at an average price of $61.89, for a total value of $5,157,541.26.

Shares of NYSE:K traded down $0.11 during trading on Friday, reaching $65.19. 23,347 shares of the company traded hands, compared to its average volume of 3,164,715. The business’s 50 day moving average price is $64.82. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 3.61 and a beta of 0.65. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.68 and a quick ratio of 0.43. Kellogg has a 52 week low of $56.61 and a 52 week high of $72.88.

Kellogg (NYSE:K) last released its earnings results on Thursday, May 6th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.15. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.38 billion. Kellogg had a return on equity of 39.78% and a net margin of 9.12%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. As a group, sell-side analysts forecast that Kellogg will post 4.09 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $0.58 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, May 28th. Kellogg’s dividend payout ratio is currently 58.15%.

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in shares of Kellogg by 17.6% during the 4th quarter. Van ECK Associates Corp now owns 1,604,088 shares of the company’s stock worth $99,822,000 after buying an additional 240,068 shares during the last quarter. Unigestion Holding SA increased its holdings in Kellogg by 115.3% in the 1st quarter. Unigestion Holding SA now owns 63,069 shares of the company’s stock worth $3,992,000 after purchasing an additional 33,772 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Kellogg by 48.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,551,922 shares of the company’s stock worth $98,241,000 after purchasing an additional 507,255 shares in the last quarter. Commerce Bank increased its holdings in Kellogg by 10.4% in the 1st quarter. Commerce Bank now owns 26,472 shares of the company’s stock worth $1,676,000 after purchasing an additional 2,503 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Kellogg by 18.6% in the 4th quarter. CIBC Asset Management Inc now owns 189,214 shares of the company’s stock worth $11,775,000 after purchasing an additional 29,626 shares in the last quarter. Institutional investors and hedge funds own 86.28% of the company’s stock.

K has been the topic of a number of recent analyst reports. Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a report on Monday, May 10th. BMO Capital Markets boosted their price target on Kellogg from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. Citigroup reduced their price target on Kellogg from $75.00 to $72.00 in a research note on Tuesday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Kellogg from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 28th. Finally, Morgan Stanley boosted their price target on Kellogg from $60.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $67.92.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars and bites, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Insider Buying and Selling by Quarter for Kellogg (NYSE:K)

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