Independent Advisor Alliance Lowers Stock Position in Kellogg (NYSE:K)

Independent Advisor Alliance lowered its position in Kellogg (NYSE:KGet Rating) by 36.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,771 shares of the company’s stock after selling 5,025 shares during the period. Independent Advisor Alliance’s holdings in Kellogg were worth $566,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its holdings in Kellogg by 6.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,490 shares of the company’s stock worth $161,000 after buying an additional 149 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Kellogg by 0.3% during the first quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock worth $170,000 after buying an additional 159 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Kellogg by 1.9% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,207 shares of the company’s stock worth $594,000 after buying an additional 169 shares during the last quarter. Financial Counselors Inc. increased its holdings in Kellogg by 4.4% during the fourth quarter. Financial Counselors Inc. now owns 4,123 shares of the company’s stock worth $266,000 after buying an additional 174 shares during the last quarter. Finally, SPC Financial Inc. increased its holdings in Kellogg by 2.1% during the first quarter. SPC Financial Inc. now owns 8,607 shares of the company’s stock worth $555,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on K. Deutsche Bank Aktiengesellschaft cut their target price on shares of Kellogg from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, June 22nd. Piper Sandler lowered shares of Kellogg from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $66.00 to $62.00 in a research report on Tuesday, May 3rd. Citigroup increased their target price on shares of Kellogg from $83.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, June 22nd. Morgan Stanley increased their target price on shares of Kellogg from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 14th. Finally, Credit Suisse Group increased their target price on shares of Kellogg from $62.00 to $69.00 in a research report on Monday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.90.

Insider Buying and Selling at Kellogg

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $74.06, for a total transaction of $10,824,091.18. Following the transaction, the insider now directly owns 57,754,909 shares of the company’s stock, valued at $4,277,328,560.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 876,918 shares of company stock worth $62,011,256 over the last three months. 1.40% of the stock is owned by insiders.

Kellogg Trading Up 1.7 %

Shares of Kellogg stock opened at $75.04 on Friday. Kellogg has a 1 year low of $59.54 and a 1 year high of $76.45. The firm has a market cap of $25.35 billion, a PE ratio of 16.71, a PEG ratio of 4.77 and a beta of 0.43. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.65 and a quick ratio of 0.39. The company has a 50 day simple moving average of $70.98 and a two-hundred day simple moving average of $67.74.

Kellogg (NYSE:KGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.13. Kellogg had a net margin of 10.81% and a return on equity of 34.82%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business posted $1.14 earnings per share. Kellogg’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Kellogg will post 4.09 earnings per share for the current fiscal year.

Kellogg Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, August 31st. This is a positive change from Kellogg’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 3.14%. Kellogg’s payout ratio is presently 51.67%.

Kellogg Company Profile

(Get Rating)

Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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