Kellogg Company (K) Position Reduced by Keybank National Association OH
Keybank National Association OH lowered its position in shares of Kellogg Company (NYSE:K) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,972,042 shares of the company’s stock after selling 180,725 shares during the period. Kellogg comprises about 10.8% of Keybank National Association OH’s portfolio, making the stock its largest position. Keybank National Association OH owned 7.41% of Kellogg worth $1,804,018,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Washington Trust Bank increased its position in shares of Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after buying an additional 15 shares during the last quarter. Exane Derivatives increased its position in shares of Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares during the last quarter. Pathstone Family Office LLC bought a new position in shares of Kellogg during the first quarter worth approximately $143,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares during the last quarter. Finally, CWM LLC increased its position in shares of Kellogg by 5.3% in the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after buying an additional 117 shares during the last quarter. 85.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kellogg Company (NYSE K) traded up 0.13% during mid-day trading on Tuesday, hitting $66.87. 50,698 shares of the stock were exchanged. The firm has a 50-day moving average price of $68.07 and a 200 day moving average price of $71.33. Kellogg Company has a 12-month low of $65.32 and a 12-month high of $83.37. The company has a market capitalization of $23.08 billion, a PE ratio of 30.27 and a beta of 0.50.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. Kellogg’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. On average, equities research analysts expect that Kellogg Company will post $3.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.54 dividend. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Wednesday, August 30th. Kellogg’s dividend payout ratio is presently 94.12%.
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Several analysts have commented on K shares. UBS AG decreased their target price on shares of Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a research report on Friday, May 5th. Royal Bank Of Canada decreased 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 report on Tuesday, August 1st. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the stock a “buy” rating in a research report on Monday, August 7th. J P Morgan Chase & Co raised shares of Kellogg from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $76.00 to $78.00 in a research report on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $74.50.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
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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