Fulton Bank N.A. Takes Position in Kellogg (NYSE:K)

Fulton Bank N.A. acquired a new stake in shares of Kellogg (NYSE:KGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,810 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its position in shares of Kellogg by 108.9% during the 1st quarter. Allworth Financial LP now owns 397 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares during the period. HHM Wealth Advisors LLC purchased a new stake in Kellogg in the 1st quarter worth approximately $29,000. Cowa LLC purchased a new stake in Kellogg in the 1st quarter worth approximately $33,000. Capital Advisors Ltd. LLC lifted its stake in Kellogg by 410.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 577 shares of the company’s stock worth $37,000 after purchasing an additional 464 shares in the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in Kellogg in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 84.51% of the company’s stock.

Insider Activity at Kellogg

In related news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $70.61, for a total transaction of $10,319,863.33. Following the completion of the sale, the insider now directly owns 57,316,450 shares in the company, valued at $4,047,114,534.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $70.61, for a total transaction of $10,319,863.33. Following the completion of the sale, the insider now directly owns 57,316,450 shares in the company, valued at $4,047,114,534.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary H. Pilnick sold 113,725 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $74.88, for a total transaction of $8,515,728.00. Following the completion of the transaction, the insider now owns 1,275 shares of the company’s stock, valued at $95,472. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,042,352 shares of company stock worth $76,465,196. 1.40% of the stock is owned by company insiders.

Kellogg Stock Up 1.1 %

Shares of Kellogg stock opened at $71.08 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.43 and a current ratio of 0.70. The company has a 50-day simple moving average of $73.48 and a two-hundred day simple moving average of $69.75. Kellogg has a 52-week low of $59.54 and a 52-week high of $76.99. The stock has a market capitalization of $24.18 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 4.20 and a beta of 0.43.

Kellogg (NYSE:KGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.13. Kellogg had a net margin of 10.21% and a return on equity of 33.77%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that Kellogg will post 4.12 EPS for the current fiscal year.

Kellogg Increases Dividend

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

Analyst Upgrades and Downgrades

K has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Kellogg from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 14th. JPMorgan Chase & Co. restated an “underweight” rating and set a $67.00 price objective (up previously from $64.00) on shares of Kellogg in a research report on Wednesday, June 22nd. Credit Suisse Group raised their price objective on shares of Kellogg to $72.00 in a research report on Tuesday, August 9th. UBS Group cut shares of Kellogg from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $81.00 to $74.00 in a research report on Thursday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Kellogg from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Kellogg presently has a consensus rating of “Hold” and a consensus price target of $71.20.

Kellogg Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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