Stoneridge Investment Partners LLC grew its holdings in shares of Kellogg (NYSE:K) by 190.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,226 shares of the company’s stock after purchasing an additional 47,992 shares during the quarter. Kellogg makes up about 1.3% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 22nd biggest holding. Stoneridge Investment Partners LLC’s holdings in Kellogg were worth $4,175,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Highwater Wealth Management LLC acquired a new stake in Kellogg during the 4th quarter worth $70,000. PNC Financial Services Group Inc. boosted its position in shares of Kellogg by 46.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 389,170 shares of the company’s stock valued at $27,251,000 after acquiring an additional 123,011 shares during the last quarter. Aperio Group LLC boosted its position in shares of Kellogg by 5.2% during the 3rd quarter. Aperio Group LLC now owns 153,080 shares of the company’s stock valued at $10,719,000 after acquiring an additional 7,618 shares during the last quarter. Manning & Napier Group LLC boosted its position in shares of Kellogg by 11.5% during the 3rd quarter. Manning & Napier Group LLC now owns 67,873 shares of the company’s stock valued at $4,752,000 after acquiring an additional 7,005 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its position in shares of Kellogg by 6.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 110,800 shares of the company’s stock valued at $7,758,000 after acquiring an additional 6,519 shares during the last quarter. 87.01% of the stock is currently owned by institutional investors.
NYSE:K traded down $1.11 on Monday, reaching $54.25. 131,246 shares of the company’s stock were exchanged, compared to its average volume of 2,665,099. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.70 and a quick ratio of 0.40. The firm has a market capitalization of $19.21 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.58. Kellogg has a 52-week low of $54.82 and a 52-week high of $74.98.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, February 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Analysts expect that Kellogg will post 4.06 EPS for the current fiscal year.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $58.36, for a total transaction of $5,836,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Fareed A. Khan purchased 8,190 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were acquired at an average price of $62.14 per share, for a total transaction of $508,926.60. The disclosure for this purchase can be found here. Insiders have sold 580,000 shares of company stock worth $34,626,200 over the last quarter. Insiders own 1.40% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research reissued a “sell” rating on shares of Kellogg in a research report on Tuesday, November 13th. Deutsche Bank set a $60.00 price target on shares of Kellogg and gave the company a “hold” rating in a research report on Friday. TheStreet cut shares of Kellogg from a “b-” rating to a “c” rating in a research report on Thursday. ValuEngine cut shares of Kellogg from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Credit Suisse Group set a $54.00 target price on shares of Kellogg and gave the company a “hold” rating in a research report on Saturday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.15.
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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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