Aperio Group LLC lowered its position in shares of Kellogg Company (NYSE:K) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,146 shares of the company’s stock after selling 13,246 shares during the quarter. Aperio Group LLC’s holdings in Kellogg were worth $7,556,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Washington Trust Bank boosted its stake in shares of Kellogg by 0.8% during the 2nd quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after purchasing an additional 15 shares during the last quarter. Exane Derivatives boosted its position in shares of Kellogg by 24.2% in the second quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after acquiring an additional 448 shares during the last quarter. CWM LLC boosted its position in shares of Kellogg by 5.3% in the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after acquiring an additional 117 shares during the last quarter. Alpha Windward LLC boosted its position in shares of Kellogg by 0.4% in the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after acquiring an additional 11 shares during the last quarter. Finally, Round Table Services LLC acquired a new stake in shares of Kellogg in the second quarter worth approximately $200,000. Institutional investors and hedge funds own 86.61% of the company’s stock.
In related news, CEO Steven A. Cahillane bought 15,930 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were purchased at an average price of $62.70 per share, with a total value of $998,811.00. Following the completion of the purchase, the chief executive officer now owns 15,930 shares of the company’s stock, valued at approximately $998,811. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Donald R. Knauss sold 6,846 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total value of $428,354.22. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $312,850. The disclosure for this sale can be found here. Insiders have sold 223,438 shares of company stock valued at $14,077,678 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
Shares of Kellogg Company (K) opened at $63.76 on Tuesday. Kellogg Company has a 12-month low of $58.76 and a 12-month high of $76.69. The stock has a market capitalization of $22,352.08, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71.
Kellogg (NYSE:K) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $3.27 billion during 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 company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. equities analysts forecast that Kellogg Company will post 4.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.16 annualized dividend and a yield of 3.39%. Kellogg’s dividend payout ratio is currently 96.43%.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. J P Morgan Chase & Co upgraded shares of Kellogg from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $76.00 to $78.00 in a research note on Friday, August 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Kellogg in a report on Friday, August 4th. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of Kellogg in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $78.00 price target on shares of Kellogg and gave the company a “buy” rating in a report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Kellogg currently has an average rating of “Hold” and a consensus target price of $71.00.
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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