Crossmark Global Holdings Inc. Takes $2.21 Million Position in Kellogg Company (K)
Crossmark Global Holdings Inc. acquired a new position in shares of Kellogg Company (NYSE:K) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,439 shares of the company’s stock, valued at approximately $2,210,000.
A number of other large investors have also bought and sold shares of K. Capital Research Global Investors lifted its stake in shares of Kellogg by 54.7% in the second quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock worth $1,669,244,000 after buying an additional 8,495,714 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Kellogg by 94.3% in the second quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock worth $545,047,000 after buying an additional 3,807,425 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Kellogg by 2,619.1% in the second quarter. Janus Henderson Group PLC now owns 870,911 shares of the company’s stock worth $60,493,000 after buying an additional 838,882 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Kellogg by 81.3% in the second quarter. Schroder Investment Management Group now owns 1,563,641 shares of the company’s stock worth $107,406,000 after buying an additional 701,375 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Kellogg by 28.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,757,435 shares of the company’s stock worth $147,525,000 after buying an additional 616,120 shares in the last quarter. 85.15% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on K shares. Morgan Stanley reiterated an “equal weight” rating and issued a $69.00 target price (down previously from $74.00) on shares of Kellogg in a research note on Tuesday, July 18th. UBS AG restated a “neutral” rating and set a $72.00 price objective (down previously from $76.00) on shares of Kellogg in a research report on Tuesday, July 18th. Royal Bank Of Canada lowered their price objective on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 1st. BMO Capital Markets restated a “hold” rating and set a $85.00 price objective on shares of Kellogg in a research report on Friday, August 4th. Finally, Susquehanna Bancshares Inc restated a “hold” rating on shares of Kellogg in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Kellogg currently has an average rating of “Hold” and an average target price of $71.00.
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Shares of Kellogg Company (NYSE K) opened at $61.96 on Monday. Kellogg Company has a twelve month low of $58.76 and a twelve month high of $78.37. The company has a market cap of $21,405.48, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71.
Kellogg (NYSE:K) last announced 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. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. equities research analysts predict that Kellogg Company will post 4.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.49%. Kellogg’s dividend payout ratio is currently 96.43%.
Kellogg Company Profile
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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