Amalgamated Bank decreased its holdings in shares of Kellogg (NYSE:K – Get Rating) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,405 shares of the company’s stock after selling 1,127 shares during the period. Amalgamated Bank’s holdings in Kellogg were worth $4,218,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of K. Allworth Financial LP grew its holdings in shares of Kellogg by 108.9% during the 1st quarter. Allworth Financial LP now owns 397 shares of the company’s stock worth $26,000 after acquiring an additional 207 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of Kellogg during the 1st quarter worth approximately $29,000. Cowa LLC purchased a new stake in shares of Kellogg in the 1st quarter worth approximately $33,000. Capital Advisors Ltd. LLC grew its stake in shares of 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 buying an additional 464 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Kellogg in the 1st quarter worth approximately $39,000. Institutional investors own 84.51% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. UBS Group downgraded Kellogg from a “buy” rating to a “neutral” rating and cut their price target for the stock from $81.00 to $74.00 in a research note on Thursday, July 7th. Credit Suisse Group increased their target price on Kellogg to $72.00 in a research note on Tuesday, August 9th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $67.00 target price (up from $64.00) on shares of Kellogg in a research note on Wednesday, June 22nd. Citigroup increased their target price on Kellogg from $83.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Kellogg from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.20.
Kellogg Price Performance
Kellogg (NYSE:K – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $1.18 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 company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the firm earned $1.14 EPS. Kellogg’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Kellogg will post 4.12 earnings per share for the current year.
Kellogg Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This is a boost from Kellogg’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a yield of 3.24%. Kellogg’s dividend payout ratio (DPR) is currently 54.50%.
Insider Buying and Selling at Kellogg
In other Kellogg news, VP Kurt D. Forche sold 7,425 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $75.52, for a total transaction of $560,736.00. Following the sale, the vice president now directly owns 5,881 shares of the company’s stock, valued at $444,133.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Kellogg news, VP Kurt D. Forche sold 7,425 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $75.52, for a total transaction of $560,736.00. Following the sale, the vice president now directly owns 5,881 shares of the company’s stock, valued at $444,133.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $75.81, for a total value of $11,079,858.93. Following the transaction, the insider now owns 56,731,838 shares of the company’s stock, valued at approximately $4,300,840,638.78. The disclosure for this sale can be found here. Insiders have sold a total of 996,199 shares of company stock valued at $73,257,333 over the last ninety days. 1.40% of the stock is currently owned by company insiders.
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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