Russell Investments Group Ltd. lifted its holdings in shares of Kellogg (NYSE:K) by 143.0% during the first quarter, Holdings Channel.com reports. The firm owned 163,057 shares of the company’s stock after acquiring an additional 95,961 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kellogg were worth $9,811,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of K. Bank of New York Mellon Corp lifted its holdings in Kellogg by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 2,235,832 shares of the company’s stock valued at $134,127,000 after buying an additional 53,734 shares during the period. Rhumbline Advisers lifted its holdings in Kellogg by 6.4% in the first quarter. Rhumbline Advisers now owns 459,870 shares of the company’s stock valued at $27,588,000 after buying an additional 27,614 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in Kellogg by 4.2% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 34,433 shares of the company’s stock valued at $2,065,000 after buying an additional 1,377 shares during the period. Integrated Advisors Network LLC lifted its holdings in Kellogg by 3.0% in the first quarter. Integrated Advisors Network LLC now owns 35,037 shares of the company’s stock valued at $2,102,000 after buying an additional 1,022 shares during the period. Finally, Retirement Network lifted its holdings in Kellogg by 17.4% in the first quarter. Retirement Network now owns 19,332 shares of the company’s stock valued at $1,160,000 after buying an additional 2,867 shares during the period. Institutional investors own 86.67% of the company’s stock.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $62.14, for a total value of $6,214,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 300,000 shares of company stock valued at $18,612,000 over the last ninety days. 1.10% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on K shares. JPMorgan Chase & Co. boosted their target price on shares of Kellogg from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Jefferies Financial Group reiterated a “hold” rating and set a $71.00 price objective on shares of Kellogg in a report on Monday, May 4th. Sanford C. Bernstein upgraded shares of Kellogg from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $51.00 to $66.00 in a report on Wednesday, March 18th. Buckingham Research dropped their price objective on shares of Kellogg from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $68.00 price objective on shares of Kellogg in a report on Monday, March 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.88.
NYSE:K opened at $61.37 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.77 and a quick ratio of 0.55. The firm has a 50-day moving average of $63.74 and a 200-day moving average of $65.16. The company has a market cap of $21.41 billion, a PE ratio of 15.94, a PEG ratio of 4.30 and a beta of 0.57. Kellogg has a one year low of $51.34 and a one year high of $71.05.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.04. Kellogg had a net margin of 7.61% and a return on equity of 41.25%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Kellogg will post 3.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, May 29th. Kellogg’s payout ratio is 57.87%.
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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