Sawtooth Solutions LLC boosted its position in Kellogg (NYSE:K) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,424 shares of the company’s stock after buying an additional 304 shares during the quarter. Sawtooth Solutions LLC’s holdings in Kellogg were worth $347,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of K. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Kellogg by 12.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 47,631 shares of the company’s stock worth $3,064,000 after buying an additional 5,443 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Kellogg by 606.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 34,547 shares of the company’s stock worth $2,222,000 after buying an additional 29,656 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its holdings in Kellogg by 4.9% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 4,580 shares of the company’s stock worth $295,000 after buying an additional 215 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Kellogg by 31.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 66,011 shares of the company’s stock worth $4,246,000 after purchasing an additional 15,780 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Kellogg by 1.2% in the 2nd quarter. Principal Financial Group Inc. now owns 315,943 shares of the company’s stock worth $20,325,000 after purchasing an additional 3,641 shares during the last quarter. Hedge funds and other institutional investors own 83.69% of the company’s stock.
Several equities research analysts have recently weighed in on K shares. Royal Bank of Canada dropped their target price on shares of Kellogg from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kellogg from $74.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, October 21st. Credit Suisse Group boosted their target price on shares of Kellogg from $61.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, November 5th. Morgan Stanley boosted their target price on shares of Kellogg from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Bank of America downgraded shares of Kellogg from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $76.00 to $70.00 in a research report on Wednesday, January 5th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Kellogg presently has an average rating of “Hold” and a consensus target price of $67.89.
Shares of NYSE:K opened at $67.53 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm has a 50-day simple moving average of $63.76 and a 200 day simple moving average of $63.56. The company has a market cap of $23.04 billion, a PE ratio of 18.45, a P/E/G ratio of 3.57 and a beta of 0.59. Kellogg has a fifty-two week low of $56.61 and a fifty-two week high of $68.60.
Kellogg (NYSE:K) last posted its earnings results on Thursday, November 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.14. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.54 billion. Kellogg had a net margin of 8.86% and a return on equity of 37.88%. Kellogg’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, research analysts forecast that Kellogg will post 4.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Tuesday, November 30th. Kellogg’s payout ratio is 63.39%.
Kellogg Company Profile
Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).
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