Toroso Investments LLC Raises Holdings in Kellogg (NYSE:K)

Toroso Investments LLC lifted its holdings in shares of Kellogg (NYSE:K – Get Rating) by 64.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 36,533 shares of the company’s stock after acquiring an additional 14,305 shares during the period. Toroso Investments LLC’s holdings in Kellogg were worth $2,545,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of K. AdvisorNet Financial Inc grew its stake in shares of Kellogg by 379.2% during the third quarter. AdvisorNet Financial Inc now owns 369 shares of the company’s stock worth $26,000 after acquiring an additional 292 shares during the last quarter. Asset Dedication LLC purchased a new stake in shares of Kellogg during the third quarter worth about $29,000. Coston McIsaac & Partners purchased a new stake in shares of Kellogg during the second quarter worth about $31,000. Exos TFP Holdings LLC purchased a new stake in shares of Kellogg during the third quarter worth about $32,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of Kellogg during the third quarter worth about $33,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Kellogg Trading Down 0.4 %

Shares of NYSE:K opened at $64.97 on Friday. Kellogg has a 12-month low of $60.22 and a 12-month high of $77.17. The company has a market capitalization of $22.21 billion, a PE ratio of 23.29, a PEG ratio of 2.65 and a beta of 0.42. The business has a 50 day moving average of $67.51 and a two-hundred day moving average of $70.57. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 1.22.

Kellogg (NYSE:K – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.66 billion. Kellogg had a return on equity of 32.51% and a net margin of 6.27%. Kellogg’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, analysts forecast that Kellogg will post 4.04 EPS for the current year.

Kellogg announced that its Board of Directors has approved a stock buyback program on Monday, December 12th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, February 28th. Kellogg’s dividend payout ratio (DPR) is presently 84.59%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $67.01, for a total value of $6,701,000.00. Following the completion of the sale, the insider now directly owns 55,731,838 shares in the company, valued at $3,734,590,464.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $67.01, for a total transaction of $6,701,000.00. Following the completion of the sale, the insider now directly owns 55,731,838 shares in the company, valued at $3,734,590,464.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodrigo Lance sold 2,975 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $67.79, for a total value of $201,675.25. Following the sale, the senior vice president now owns 14,935 shares of the company’s stock, valued at $1,012,443.65. The disclosure for this sale can be found here. Insiders sold 528,437 shares of company stock worth $35,770,511 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Kellogg from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 20th. Deutsche Bank Aktiengesellschaft decreased their target price on Kellogg from $74.00 to $72.00 in a report on Monday, January 30th. TheStreet downgraded Kellogg from a “b” rating to a “c+” rating in a report on Thursday, February 9th. StockNews.com raised Kellogg from a “hold” rating to a “buy” rating in a report on Monday. Finally, Credit Suisse Group decreased their target price on Kellogg from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, February 10th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.11.

Kellogg Company Profile

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Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).