Advisor Group Inc. Sells 607 Shares of Kellogg Company (K)
Advisor Group Inc. decreased its position in Kellogg Company (NYSE:K) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,991 shares of the company’s stock after selling 607 shares during the period. Advisor Group Inc.’s holdings in Kellogg were worth $589,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Washington Trust Bank raised its holdings in Kellogg by 0.8% in the 2nd quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after acquiring an additional 15 shares in the last quarter. Pathstone Family Office LLC acquired a new position in Kellogg in the 1st quarter valued at approximately $143,000. Exane Derivatives raised its holdings in Kellogg by 24.2% in the 2nd quarter. Exane Derivatives now owns 2,300 shares of the company’s stock valued at $160,000 after acquiring an additional 448 shares in the last quarter. CWM LLC raised its holdings in Kellogg by 5.3% in the 2nd quarter. CWM LLC now owns 2,343 shares of the company’s stock valued at $163,000 after acquiring an additional 117 shares in the last quarter. Finally, Alpha Windward LLC raised its holdings in Kellogg by 0.4% in the 2nd quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock valued at $179,000 after acquiring an additional 11 shares in the last quarter. 85.40% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Piper Jaffray Companies set a $78.00 price objective on Kellogg and gave the company a “buy” rating in a research note on Monday, August 7th. Royal Bank Of Canada lowered their price objective on Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 1st. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $76.00 to $78.00 in a research note on Friday, August 4th. Zacks Investment Research lowered Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $74.00 price objective (up from $71.00) on shares of Kellogg in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $74.50.
Shares of Kellogg Company (NYSE K) opened at 62.70 on Friday. The company’s 50-day moving average price is $66.27 and its 200-day moving average price is $69.50. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 28.38 and a beta of 0.48. Kellogg Company has a 52-week low of $61.70 and a 52-week high of $78.37.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Kellogg Company will post $3.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.54 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Wednesday, August 30th. Kellogg’s payout ratio is currently 97.74%.
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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