Commerzbank Aktiengesellschaft FI Grows Holdings in Kellogg Company (K)
Commerzbank Aktiengesellschaft FI raised its position in Kellogg Company (NYSE:K) by 153.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,217 shares of the company’s stock after purchasing an additional 104,995 shares during the period. Commerzbank Aktiengesellschaft FI owned 0.05% of Kellogg worth $10,804,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Capital Research Global Investors increased its position in shares of Kellogg by 54.7% in the 2nd quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock valued at $1,669,244,000 after purchasing an additional 8,495,714 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Kellogg by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,330,268 shares of the company’s stock valued at $1,412,139,000 after purchasing an additional 56,284 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Kellogg by 94.3% in the 2nd quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after purchasing an additional 3,807,425 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Kellogg by 34.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,038,523 shares of the company’s stock valued at $251,883,000 after purchasing an additional 1,030,264 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Kellogg by 36.7% in the 3rd quarter. American Century Companies Inc. now owns 3,056,142 shares of the company’s stock valued at $190,612,000 after purchasing an additional 820,277 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.14, for a total value of $5,120,394.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $65.11, for a total transaction of $2,898,371.65. Following the transaction, the insider now directly owns 67,887,323 shares in the company, valued at $4,420,143,600.53. The disclosure for this sale can be found here. Insiders sold a total of 349,754 shares of company stock worth $22,304,119 over the last ninety days. Insiders own 1.30% of the company’s stock.
Kellogg Company (NYSE K) opened at $65.99 on Friday. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43. The company has a market cap of $22,856.47, a price-to-earnings ratio of 16.54, a P/E/G ratio of 2.67 and a beta of 0.52. Kellogg Company has a 52-week low of $58.76 and a 52-week high of $76.69.
Kellogg (NYSE:K) last posted its earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. research analysts predict that Kellogg Company will post 4.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, November 30th. Kellogg’s dividend payout ratio (DPR) is 96.43%.
K has been the topic of a number of recent analyst reports. Piper Jaffray Companies set a $78.00 price objective on shares of Kellogg and gave the company a “buy” rating in a research report on Monday, August 7th. Buckingham Research dropped their price objective on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Argus raised shares of Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research report on Wednesday, November 22nd. Morgan Stanley dropped their price objective on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Friday, October 13th. Finally, Royal Bank Of Canada set a $81.00 price objective on shares of Kellogg and gave the company a “hold” rating in a research report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Kellogg has a consensus rating of “Hold” and an average price target of $71.15.
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.
Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg Company (NYSE:K).
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with Analyst Ratings Network's FREE daily email newsletter.