Kellogg Company (K) Shares Bought by Sun Life Financial INC
Sun Life Financial INC boosted its holdings in shares of Kellogg Company (NYSE:K) by 100,720.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,082 shares of the company’s stock after acquiring an additional 10,072 shares during the quarter. Sun Life Financial INC’s holdings in Kellogg were worth $702,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of K. UBS Asset Management Americas Inc. raised its position in Kellogg by 7.5% during the first quarter. UBS Asset Management Americas Inc. now owns 941,389 shares of the company’s stock valued at $68,354,000 after acquiring an additional 65,746 shares in the last quarter. Shufro Rose & Co. LLC raised its position in Kellogg by 24.0% during the first quarter. Shufro Rose & Co. LLC now owns 3,447 shares of the company’s stock valued at $250,000 after acquiring an additional 667 shares in the last quarter. Mason Street Advisors LLC raised its position in Kellogg by 1.1% during the first quarter. Mason Street Advisors LLC now owns 34,938 shares of the company’s stock valued at $2,537,000 after acquiring an additional 376 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Kellogg by 12.4% during the first quarter. Envestnet Asset Management Inc. now owns 131,245 shares of the company’s stock valued at $9,529,000 after acquiring an additional 14,492 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Kellogg by 3.2% during the first quarter. Pacer Advisors Inc. now owns 5,322 shares of the company’s stock valued at $386,000 after acquiring an additional 165 shares in the last quarter. 85.40% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on K shares. Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the company a “buy” rating in a report on Monday, August 7th. Royal Bank Of Canada lowered their price target on Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 1st. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating and increased their price target for the company from $76.00 to $78.00 in a report on Friday, August 4th. Zacks Investment Research downgraded Kellogg from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $74.00 price target (up previously from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $74.50.
Shares of Kellogg Company (NYSE K) traded down 0.70% during trading on Friday, reaching $62.37. The company’s stock had a trading volume of 4,069,148 shares. The stock’s 50 day moving average price is $68.36 and its 200 day moving average price is $70.41. Kellogg Company has a 52 week low of $62.11 and a 52 week high of $78.37. The company has a market cap of $21.53 billion, a PE ratio of 28.23 and a beta of 0.49.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that Kellogg Company will post $3.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Wednesday, August 30th. This is a boost from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s dividend payout ratio is 97.74%.
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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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