Jarislowsky Fraser Ltd Has $1.40 Million Stake in Kellogg Company (NYSE:K)
Jarislowsky Fraser Ltd boosted its position in Kellogg Company (NYSE:K) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 20,202 shares of the company’s stock after buying an additional 35 shares during the period. Jarislowsky Fraser Ltd’s holdings in Kellogg were worth $1,403,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Kellogg by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 566,544 shares of the company’s stock worth $41,761,000 after buying an additional 18,532 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Kellogg by 2.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 875,643 shares of the company’s stock worth $64,543,000 after buying an additional 18,768 shares during the period. Suntrust Banks Inc. raised its position in shares of Kellogg by 5.3% in the first quarter. Suntrust Banks Inc. now owns 51,229 shares of the company’s stock worth $3,718,000 after buying an additional 2,594 shares during the period. Toronto Dominion Bank raised its position in shares of Kellogg by 28.8% in the first quarter. Toronto Dominion Bank now owns 108,255 shares of the company’s stock worth $7,866,000 after buying an additional 24,223 shares during the period. Finally, Advisor Partners LLC raised its position in shares of Kellogg by 19.7% in the first quarter. Advisor Partners LLC now owns 3,995 shares of the company’s stock worth $290,000 after buying an additional 657 shares during the period. Institutional investors and hedge funds own 83.30% of the company’s stock.
Kellogg Company (K) traded up 0.23% during mid-day trading on Wednesday, hitting $66.41. 113,457 shares of the stock traded hands. The stock has a 50 day moving average price of $70.06 and a 200 day moving average price of $72.07. Kellogg Company has a 12-month low of $65.32 and a 12-month high of $87.00. The firm has a market cap of $23.26 billion, a PE ratio of 30.05 and a beta of 0.50.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, May 4th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. Kellogg had a net margin of 6.07% and a return on equity of 67.99%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm earned $0.97 EPS. Kellogg’s revenue was down 4.2% on a year-over-year basis. On average, analysts expect that Kellogg Company will post $3.92 earnings per share for the current fiscal year.
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A number of research analysts have recently issued reports on K shares. Sanford C. Bernstein lowered shares of Kellogg from a “market perform” rating to an “underperform” rating in a research note on Tuesday, March 21st. Credit Suisse Group dropped their price target on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, May 5th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $80.00 price target (down from $82.00) on shares of Kellogg in a research note on Tuesday, April 25th. Zacks Investment Research lowered shares of Kellogg from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, TheStreet upgraded shares of Kellogg from a “c+” rating to a “b+” rating in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Kellogg currently has a consensus rating of “Hold” and an average price target of $77.82.
In other news, Director John T. Dillon sold 4,900 shares of Kellogg stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of Kellogg stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 99,900 shares of company stock worth $7,178,363 over the last 90 days. 1.30% of the stock is owned by insiders.
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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