J.W. Cole Advisors Inc. Makes New $93,000 Investment in Kellogg (NYSE:K)

J.W. Cole Advisors Inc. bought a new position in Kellogg (NYSE:KGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,639 shares of the company’s stock, valued at approximately $93,000.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Kellogg by 108.9% in the first quarter. Allworth Financial LP now owns 397 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Kellogg in the first quarter worth approximately $29,000. Cowa LLC bought a new stake in Kellogg in the first quarter worth approximately $33,000. Capital Advisors Ltd. LLC increased its holdings in Kellogg by 410.6% in the first 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. bought a new stake in shares of Kellogg during the first quarter valued at approximately $39,000. 84.51% of the stock is currently owned by institutional investors.

Kellogg Stock Up 1.0 %

K stock opened at $73.61 on Friday. The stock’s fifty day simple moving average is $73.42 and its two-hundred day simple moving average is $69.91. 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 stock has a market cap of $25.04 billion, a P/E ratio of 17.00, a P/E/G ratio of 4.23 and a beta of 0.43.

Kellogg (NYSE:KGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Analysts expect that Kellogg will post 4.12 EPS for the current year.

Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This is a positive change from Kellogg’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a dividend yield of 3.21%. Kellogg’s payout ratio is presently 54.50%.

Insider Buying and Selling at Kellogg

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $72.68, for a total value of $10,622,400.04. Following the sale, the insider now directly owns 57,170,297 shares in the company, valued at $4,155,137,185.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Amit Banati sold 34,007 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $75.06, for a total transaction of $2,552,565.42. Following the sale, the chief financial officer now directly owns 59,732 shares in the company, valued at approximately $4,483,483.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $72.68, for a total value of $10,622,400.04. Following the sale, the insider now owns 57,170,297 shares in the company, valued at $4,155,137,185.96. The disclosure for this sale can be found here. Insiders have sold a total of 996,199 shares of company stock worth $73,257,333 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

K has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Kellogg from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, June 22nd. Credit Suisse Group boosted their price objective on Kellogg to $72.00 in a report on Tuesday, August 9th. Citigroup boosted their price objective on Kellogg from $83.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, June 22nd. 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 report on Wednesday, June 22nd. Finally, UBS Group downgraded Kellogg from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $81.00 to $74.00 in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.20.

About Kellogg

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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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