Jacobi Capital Management LLC Increases Stock Holdings in Kellogg (NYSE:K)

Jacobi Capital Management LLC raised its stake in Kellogg (NYSE:KGet Rating) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,373 shares of the company’s stock after purchasing an additional 1,070 shares during the period. Jacobi Capital Management LLC’s holdings in Kellogg were worth $604,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its position in shares of 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 acquiring an additional 149 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of 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 acquiring an additional 159 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of 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 acquiring an additional 169 shares during the last quarter. Financial Counselors Inc. grew its position in shares of 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 acquiring an additional 174 shares during the last quarter. Finally, SPC Financial Inc. grew its position in shares of 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 acquiring an additional 175 shares during the last quarter. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Kellogg Price Performance

Shares of NYSE K opened at $75.04 on Friday. Kellogg has a twelve month low of $59.54 and a twelve month high of $76.45. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $25.35 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 4.73 and a beta of 0.43. The business has a 50 day simple moving average of $70.98 and a 200-day simple moving average of $67.74.

Kellogg (NYSE:KGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.13. Kellogg had a return on equity of 33.77% and a net margin of 10.21%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $1.14 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Kellogg will post 4.12 earnings per share for the current year.

Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a dividend of $0.59 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, August 31st. Kellogg’s dividend payout ratio is presently 53.58%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the company’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $66.92, for a total transaction of $9,780,558.76. Following the completion of the transaction, the insider now directly owns 57,608,756 shares in the company, valued at approximately $3,855,177,951.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 876,918 shares of company stock worth $62,011,256 in the last three months. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

K has been the subject of several recent research reports. Citigroup increased their price target on Kellogg from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, June 22nd. UBS Group downgraded Kellogg from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $81.00 to $74.00 in a report on Thursday, July 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $67.00 price target (up from $64.00) on shares of Kellogg in a report on Wednesday, June 22nd. StockNews.com raised Kellogg from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Finally, Credit Suisse Group raised their target price on Kellogg from $62.00 to $69.00 in a report on Monday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.90.

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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