Kellogg (NYSE:K) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV raised its stake in shares of Kellogg (NYSE:KGet Rating) by 92.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 699 shares of the company’s stock after buying an additional 336 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Kellogg were worth $50,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted its holdings in shares of Kellogg by 108.9% during the first quarter. Allworth Financial LP now owns 397 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Kellogg in the first quarter valued at $29,000. Capital Advisors Ltd. LLC boosted its holdings in Kellogg by 410.6% in the first quarter. Capital Advisors Ltd. LLC now owns 577 shares of the company’s stock valued at $37,000 after acquiring an additional 464 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in Kellogg in the first quarter valued at $39,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new position in Kellogg in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 84.51% of the company’s stock.

Kellogg Stock Up 0.6 %

Shares of NYSE K opened at $71.48 on Tuesday. Kellogg has a 1 year low of $59.54 and a 1 year high of $76.99. The firm has a market cap of $24.31 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 4.20 and a beta of 0.43. 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 stock’s 50-day simple moving average is $73.48 and its 200-day simple moving average is $69.78.

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

Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.30%. This is an increase from Kellogg’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, August 31st. Kellogg’s dividend payout ratio (DPR) is 54.50%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $72.49, for a total value of $7,249,000.00. Following the completion of the transaction, the insider now directly owns 56,631,838 shares in the company, valued at $4,105,241,936.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $75.81, for a total value of $11,079,858.93. Following the completion of the transaction, the insider now directly owns 56,731,838 shares in the company, valued at $4,300,840,638.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $72.49, for a total value of $7,249,000.00. Following the completion of the transaction, the insider now owns 56,631,838 shares of the company’s stock, valued at $4,105,241,936.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 896,199 shares of company stock worth $66,145,333. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of a number of research analyst reports. UBS Group cut Kellogg from a “buy” rating to a “neutral” rating and reduced their target price for the company from $81.00 to $74.00 in a report on Thursday, July 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $67.00 target price (up previously from $64.00) on shares of Kellogg in a report on Wednesday, June 22nd. Citigroup lifted their target price on Kellogg from $83.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, June 22nd. Credit Suisse Group raised their price objective on Kellogg to $72.00 in a research report on Tuesday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Kellogg from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $71.20.

Kellogg Company 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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