Advisory Services Network LLC Purchases 4,405 Shares of Kellogg (NYSE:K)

Advisory Services Network LLC grew its position in Kellogg (NYSE:KGet Rating) by 14.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,022 shares of the company’s stock after acquiring an additional 4,405 shares during the period. Advisory Services Network LLC’s holdings in Kellogg were worth $2,194,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Kellogg by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after purchasing an additional 646,828 shares during the last quarter. BlackRock Inc. raised its position in shares of Kellogg by 4.1% during the 1st quarter. BlackRock Inc. now owns 26,845,929 shares of the company’s stock valued at $1,731,295,000 after acquiring an additional 1,054,740 shares during the last quarter. State Street Corp raised its position in shares of Kellogg by 2.6% during the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock valued at $947,753,000 after acquiring an additional 369,620 shares during the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of Kellogg by 2.1% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 5,196,773 shares of the company’s stock valued at $335,139,000 after acquiring an additional 106,335 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Kellogg by 6.3% during the 1st quarter. Invesco Ltd. now owns 5,137,164 shares of the company’s stock valued at $331,296,000 after acquiring an additional 302,388 shares during the last quarter. Institutional investors own 84.51% of the company’s stock.

Kellogg Price Performance

Shares of NYSE K opened at $71.08 on Friday. The firm has a market cap of $24.18 billion, a PE ratio of 16.42, a PEG ratio of 4.16 and a beta of 0.43. The company has a current ratio of 0.70, a quick ratio of 0.43 and a debt-to-equity ratio of 1.28. Kellogg has a 1-year low of $59.54 and a 1-year high of $76.99. The company has a fifty day moving average price of $73.48 and a 200 day moving average price of $69.70.

Kellogg (NYSE:KGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.13. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.64 billion. Kellogg had a net margin of 10.21% and a return on equity of 33.77%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. Research analysts predict that Kellogg will post 4.12 earnings per share for the current fiscal year.

Kellogg Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from Kellogg’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, August 31st. Kellogg’s dividend payout ratio is currently 54.50%.

Analysts Set New Price Targets

Several brokerages have commented on K. Morgan Stanley upped their target price on shares of Kellogg from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, July 14th. Credit Suisse Group boosted their price target on shares of Kellogg to $72.00 in a report on Tuesday, August 9th. UBS Group lowered shares of Kellogg from a “buy” rating to a “neutral” rating and decreased their price target for the company from $81.00 to $74.00 in a report on Thursday, July 7th. Citigroup boosted their price target on shares of Kellogg from $83.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kellogg from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kellogg has a consensus rating of “Hold” and an average price target of $71.20.

Insider Transactions at Kellogg

In other news, VP Kurt D. Forche sold 7,425 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $75.52, for a total transaction of $560,736.00. Following the completion of the transaction, the vice president now directly owns 5,881 shares in the company, valued at approximately $444,133.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Kurt D. Forche sold 7,425 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $75.52, for a total value of $560,736.00. Following the sale, the vice president now directly owns 5,881 shares of the company’s stock, valued at approximately $444,133.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $72.49, for a total transaction of $7,249,000.00. Following the completion of the sale, the insider now directly owns 56,631,838 shares in the company, valued at $4,105,241,936.62. The disclosure for this sale can be found here. Insiders sold a total of 1,042,352 shares of company stock worth $76,465,196 in the last three months. Insiders own 1.40% of the company’s stock.

Kellogg Profile

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Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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