Kellogg (NYSE:K) Major Shareholder Sells $7,112,000.00 in Stock

Kellogg (NYSE:KGet Rating) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $71.12, for a total value of $7,112,000.00. Following the sale, the insider now owns 56,531,838 shares of the company’s stock, valued at $4,020,544,318.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellogg Price Performance

Shares of K stock opened at $73.61 on Friday. Kellogg has a fifty-two week low of $59.54 and a fifty-two week high of $76.99. The firm has a market capitalization of $25.04 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 4.23 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 $73.42 and its 200-day simple moving average is $69.91.

Kellogg (NYSE:KGet Rating) last issued its quarterly 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. 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 quarter in the previous year, the firm earned $1.14 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Kellogg will post 4.12 earnings per share for the current fiscal year.

Kellogg Increases Dividend

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

Institutional Investors Weigh In On Kellogg

Institutional investors and hedge funds have recently modified their holdings of the company. Investment Research & Advisory Group Inc. acquired a new stake in shares of Kellogg during the second quarter worth about $26,000. Glassman Wealth Services lifted its holdings in shares of Kellogg by 137.3% during the second quarter. Glassman Wealth Services now owns 394 shares of the company’s stock worth $28,000 after purchasing an additional 228 shares during the period. Allworth Financial LP lifted 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 period. First Horizon Advisors Inc. lifted its holdings in shares of Kellogg by 115.5% during the second quarter. First Horizon Advisors Inc. now owns 416 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares during the period. Finally, Coston McIsaac & Partners acquired a new stake in shares of Kellogg during the second quarter worth about $31,000. Institutional investors and hedge funds own 84.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on K shares. Credit Suisse Group raised their price target on Kellogg to $72.00 in a research note on Tuesday, August 9th. UBS Group lowered Kellogg from a “buy” rating to a “neutral” rating and cut their target price for the company from $81.00 to $74.00 in a research note 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 research note on Wednesday, June 22nd. Morgan Stanley lifted their target price on Kellogg from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, July 14th. Finally, Citigroup lifted 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. 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 MarketBeat.com, Kellogg presently has an average rating of “Hold” and a consensus price target 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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Insider Buying and Selling by Quarter for Kellogg (NYSE:K)

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