Kellogg Company (K) Stake Increased by Franklin Resources Inc.
Franklin Resources Inc. lifted its stake in shares of Kellogg Company (NYSE:K) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,456 shares of the company’s stock after buying an additional 24 shares during the quarter. Franklin Resources Inc.’s holdings in Kellogg were worth $1,769,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Washington Trust Bank lifted its position in shares of Kellogg by 0.8% during the 2nd 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. Pathstone Family Office LLC purchased a new stake in shares of Kellogg during the 1st quarter worth approximately $143,000. Exane Derivatives lifted its position in shares of Kellogg by 24.2% during the 2nd quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after buying an additional 448 shares during the last quarter. CWM LLC lifted its position in shares of Kellogg by 5.3% during the 2nd 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. Finally, Alpha Windward LLC lifted its position in shares of Kellogg by 0.4% during the 2nd quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.
A number of equities analysts have recently commented on K shares. UBS AG reaffirmed a “neutral” rating and issued a $72.00 target price (down from $76.00) on shares of Kellogg in a report on Tuesday, July 18th. BMO Capital Markets cut their target price on shares of Kellogg from $85.00 to $78.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. Royal Bank Of Canada cut their target price on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 1st. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of Kellogg in a report on Thursday, August 3rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $74.00 target price (up from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Kellogg currently has a consensus rating of “Hold” and an average target price of $74.50.
Kellogg Company (NYSE K) opened at 62.37 on Friday. The firm has a market capitalization of $21.53 billion, a PE ratio of 28.23 and a beta of 0.49. The firm has a 50-day moving average of $68.36 and a 200 day moving average of $70.41. Kellogg Company has a 52 week low of $62.11 and a 52 week high of $78.37.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 period last year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts predict that Kellogg Company will post $3.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This is a boost 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 (DPR) is 97.74%.
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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