Federated Investors Inc. PA Sells 66 Shares of Kellogg Company (K)
Federated Investors Inc. PA trimmed its holdings in shares of Kellogg Company (NYSE:K) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,025 shares of the company’s stock after selling 66 shares during the period. Federated Investors Inc. PA’s holdings in Kellogg were worth $349,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its stake in Kellogg by 2,851.0% in the first quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock valued at $1,464,385,000 after purchasing an additional 19,484,390 shares in the last quarter. Renaissance Technologies LLC increased its stake in Kellogg by 73.4% in the first quarter. Renaissance Technologies LLC now owns 3,157,600 shares of the company’s stock valued at $229,273,000 after purchasing an additional 1,336,400 shares in the last quarter. Vanguard Group Inc. increased its stake in Kellogg by 6.6% in the first quarter. Vanguard Group Inc. now owns 20,273,984 shares of the company’s stock valued at $1,472,094,000 after purchasing an additional 1,248,613 shares in the last quarter. Schroder Investment Management Group increased its stake in Kellogg by 254.0% in the first quarter. Schroder Investment Management Group now owns 862,266 shares of the company’s stock valued at $62,549,000 after purchasing an additional 618,694 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its stake in Kellogg by 28.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,757,435 shares of the company’s stock valued at $147,525,000 after purchasing an additional 616,120 shares in the last quarter. 85.40% of the stock is owned by institutional investors and hedge funds.
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Kellogg Company (NYSE K) opened at 63.36 on Friday. Kellogg Company has a 12-month low of $63.11 and a 12-month high of $78.40. The firm has a market cap of $21.87 billion, a PE ratio of 28.68 and a beta of 0.49. The stock has a 50 day moving average of $68.36 and a 200 day moving average of $70.41.
Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. Kellogg’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. On average, equities research analysts anticipate that Kellogg Company will post $3.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.41%. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s payout ratio is currently 97.74%.
Several brokerages have commented on K. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the company a “buy” rating in a research note on Monday, August 7th. Royal Bank Of Canada lowered their target price on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 1st. J P Morgan Chase & Co raised shares of Kellogg from a “neutral” rating to an “overweight” rating and upped their target price for the company from $76.00 to $78.00 in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $74.00 target price (up previously 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 given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.50.
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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