Toth Financial Advisory Corp lessened its stake in Kellogg (NYSE:K) by 15.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,275 shares of the company’s stock after selling 3,396 shares during the period. Toth Financial Advisory Corp’s holdings in Kellogg were worth $1,033,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. increased its holdings in Kellogg by 13.5% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,894,578 shares of the company’s stock valued at $167,224,000 after purchasing an additional 462,398 shares during the period. Geode Capital Management LLC increased its holdings in Kellogg by 11.6% during the 4th quarter. Geode Capital Management LLC now owns 3,517,033 shares of the company’s stock valued at $200,178,000 after purchasing an additional 364,719 shares during the period. Northern Trust Corp increased its holdings in Kellogg by 1.3% during the 1st quarter. Northern Trust Corp now owns 3,460,612 shares of the company’s stock valued at $198,570,000 after purchasing an additional 45,977 shares during the period. Ceredex Value Advisors LLC increased its holdings in Kellogg by 37.1% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock valued at $163,488,000 after purchasing an additional 771,375 shares during the period. Finally, APG Asset Management N.V. increased its holdings in Kellogg by 1,277.4% during the 4th quarter. APG Asset Management N.V. now owns 2,658,632 shares of the company’s stock valued at $132,589,000 after purchasing an additional 2,465,620 shares during the period. 87.24% of the stock is owned by institutional investors.
A number of research firms have weighed in on K. Piper Jaffray Companies set a $16.00 target price on WPX Energy and gave the stock a “buy” rating in a report on Friday, April 5th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. ValuEngine upgraded USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. GMP Securities reiterated a “hold” rating and set a $6.00 target price on shares of TrustCo Bank Corp NY in a report on Thursday, July 11th. Finally, Morgan Stanley set a $56.00 target price on Kellogg and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $62.05.
Shares of K traded up $0.71 during mid-day trading on Friday, reaching $59.08. The company had a trading volume of 99,263 shares, compared to its average volume of 2,553,780. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.68 and a quick ratio of 0.41. The stock’s 50-day moving average is $55.58. Kellogg has a 52 week low of $51.34 and a 52 week high of $74.98. The stock has a market capitalization of $19.84 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 3.36 and a beta of 0.63.
Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 EPS. On average, research analysts anticipate that Kellogg will post 3.86 earnings per share for the current year.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $56.58, for a total value of $5,658,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 600,000 shares of company stock worth $33,544,000 over the last ninety days. 0.09% of the stock is currently owned by insiders.
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. 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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