Kellogg Co. (K) Stake Increased by Wagner Bowman Management Corp
Wagner Bowman Management Corp boosted its stake in Kellogg Co. (NYSE:K) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,459 shares of the company’s stock after buying an additional 10 shares during the period. Wagner Bowman Management Corp’s holdings in Kellogg were worth $609,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of K. Norges Bank bought a new stake in Kellogg during the fourth quarter valued at $150,591,000. Renaissance Technologies LLC bought a new stake in Kellogg during the first quarter valued at $75,899,000. Bank of Montreal Can bought a new stake in Kellogg during the second quarter valued at $40,021,000. Adage Capital Partners GP L.L.C. boosted its stake in Kellogg by 23.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,997,137 shares of the company’s stock valued at $152,881,000 after buying an additional 379,406 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Kellogg by 1,718.7% in the first quarter. Canada Pension Plan Investment Board now owns 320,782 shares of the company’s stock valued at $24,556,000 after buying an additional 303,144 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded down 1.14% during midday trading on Tuesday, hitting $77.28. 1,448,998 shares of the stock were exchanged. Kellogg Co. has a 12 month low of $64.65 and a 12 month high of $87.16. The stock has a market cap of $27.07 billion, a P/E ratio of 44.21 and a beta of 0.45. The firm has a 50 day moving average of $81.44 and a 200-day moving average of $78.59.
Kellogg (NYSE:K) last announced its earnings results on Thursday, August 4th. The company reported $0.91 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. Kellogg had a net margin of 4.71% and a return on equity of 56.33%. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts anticipate that Kellogg Co. will post $0.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.69%. The ex-dividend date was Tuesday, August 30th. This is an increase from Kellogg’s previous quarterly dividend of $0.50. Kellogg’s dividend payout ratio (DPR) is currently 119.54%.
Several research firms have recently weighed in on K. Deutsche Bank AG restated a “hold” rating on shares of Kellogg in a research report on Saturday, August 6th. Argus restated a “hold” rating on shares of Kellogg in a research report on Friday, August 5th. Citigroup Inc. lowered their price objective on shares of Kellogg from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. RBC Capital Markets restated a “sector perform” rating and set a $86.00 price objective (up previously from $82.00) on shares of Kellogg in a research report on Friday, August 5th. Finally, Royal Bank Of Canada lifted their target price on shares of Kellogg from $82.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $81.65.
In other Kellogg news, insider Maria Fernanda Mejia sold 35,175 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $83.01, for a total transaction of $2,919,876.75. Following the transaction, the insider now directly owns 35,111 shares in the company, valued at approximately $2,914,564.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 250,000 shares of the stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $76.98, for a total transaction of $19,245,000.00. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by corporate insiders.
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg Co. (NYSE:K).
Receive News & Ratings for Kellogg Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.