Kennedy Investment Group Buys 1,262 Shares of Kellogg (NYSE:K)

Kennedy Investment Group increased its holdings in Kellogg (NYSE:K) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,044 shares of the company’s stock after purchasing an additional 1,262 shares during the quarter. Kennedy Investment Group’s holdings in Kellogg were worth $1,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in K. ICW Investment Advisors LLC increased its position in shares of Kellogg by 3.3% in the first quarter. ICW Investment Advisors LLC now owns 4,506 shares of the company’s stock valued at $302,000 after acquiring an additional 142 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Kellogg by 48.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 453 shares of the company’s stock valued at $30,000 after purchasing an additional 147 shares in the last quarter. JLB & Associates Inc. boosted its stake in shares of Kellogg by 0.6% during the 1st quarter. JLB & Associates Inc. now owns 24,716 shares of the company’s stock valued at $1,655,000 after purchasing an additional 150 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Kellogg by 0.3% during the 1st quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock valued at $170,000 after purchasing an additional 159 shares in the last quarter. Finally, Castleview Partners LLC boosted its stake in shares of Kellogg by 5.4% during the 1st quarter. Castleview Partners LLC now owns 3,218 shares of the company’s stock valued at $215,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellogg Stock Down 1.2 %

Shares of NYSE K traded down $0.71 during midday trading on Wednesday, hitting $58.89. The stock had a trading volume of 1,141,298 shares, compared to its average volume of 2,255,429. The business’s 50 day moving average is $64.11 and its 200-day moving average is $66.11. The company has a market cap of $20.16 billion, a P/E ratio of 23.78, a PEG ratio of 3.98 and a beta of 0.42. Kellogg has a 52 week low of $58.81 and a 52 week high of $77.17. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

Kellogg (NYSE:K) last issued its earnings results on Thursday, August 3rd. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.14. Kellogg had a net margin of 5.46% and a return on equity of 33.33%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.05 billion. As a group, analysts predict that Kellogg will post 4.14 EPS for the current year.

Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.08%. This is a boost from Kellogg’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, August 31st. Kellogg’s payout ratio is presently 96.00%.

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 Monday, July 10th. The shares were sold at an average price of $67.10, for a total transaction of $6,710,000.00. Following the completion of the transaction, the insider now directly owns 54,631,838 shares of the company’s stock, valued at $3,665,796,329.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $59.42, for a total value of $4,622,876.00. Following the completion of the sale, the insider now directly owns 54,254,038 shares of the company’s stock, valued at $3,223,774,937.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $67.10, for a total transaction of $6,710,000.00. Following the transaction, the insider now owns 54,631,838 shares of the company’s stock, valued at approximately $3,665,796,329.80. The disclosure for this sale can be found here. Insiders sold 577,800 shares of company stock valued at $37,169,876 over the last three months. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on K. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of Kellogg in a research note on Wednesday. 22nd Century Group reaffirmed an “upgrade” rating on shares of Kellogg in a research note on Tuesday, June 27th. TD Cowen started coverage on shares of Kellogg in a research note on Wednesday. They set a “market perform” rating and a $63.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Kellogg from $73.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, August 10th. Finally, Barclays dropped their price objective on shares of Kellogg from $74.00 to $69.00 and set an “underweight” rating on the stock in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.86.

Kellogg Profile

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.