Kellogg Company (K) Stake Held by Baker Chad R
Baker Chad R continued to hold its stake in Kellogg Company (NYSE:K) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock at the close of the 2nd quarter. Baker Chad R’s holdings in Kellogg were worth $2,084,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of K. Invictus RG acquired a new stake in shares of Kellogg during the 1st quarter worth approximately $458,000. Lazard Asset Management LLC boosted its holdings in Kellogg by 94.3% during the second quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock worth $545,047,000 after buying an additional 3,807,425 shares in the last quarter. Cim Investment Mangement Inc. purchased a new stake in Kellogg during the second quarter worth $563,000. Dupont Capital Management Corp purchased a new stake in Kellogg during the second quarter worth $268,000. Finally, Pacer Advisors Inc. boosted its holdings in Kellogg by 157.0% during the second quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock worth $950,000 after buying an additional 8,353 shares in the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.
Several analysts recently commented on the company. BMO Capital Markets reiterated a “hold” rating and set a $78.00 price target on shares of Kellogg in a research report on Wednesday, September 6th. Royal Bank Of Canada lifted their target price on shares of Kellogg from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Monday, August 7th. Sanford C. Bernstein set a $62.00 target price on shares of Kellogg and gave the stock a “sell” rating in a report on Tuesday, June 27th. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Zacks Investment Research cut shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Kellogg has an average rating of “Hold” and an average target price of $74.50.
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Kellogg Company (NYSE K) traded up 1.04% on Monday, hitting $63.02. 1,894,100 shares of the stock traded hands. The firm’s 50-day moving average price is $68.36 and its 200-day moving average price is $70.41. Kellogg Company has a 12-month low of $61.70 and a 12-month high of $78.37. The stock has a market cap of $21.75 billion, a price-to-earnings ratio of 28.53 and a beta of 0.48.
Kellogg (NYSE:K) last issued its earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Kellogg Company will post $3.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.46%. Kellogg’s dividend payout ratio is currently 97.74%.
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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