Kellogg (NYSE:K) Stock Holdings Increased by Quadrant Capital Group LLC

Quadrant Capital Group LLC raised its holdings in shares of Kellogg (NYSE:KGet Rating) by 38.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,784 shares of the company’s stock after acquiring an additional 778 shares during the period. Quadrant Capital Group LLC’s holdings in Kellogg were worth $180,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its stake in Kellogg by 2.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 272,637 shares of the company’s stock valued at $17,563,000 after acquiring an additional 6,100 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Kellogg in the 4th quarter worth $420,000. Wetherby Asset Management Inc. raised its stake in shares of Kellogg by 8.0% in the 4th quarter. Wetherby Asset Management Inc. now owns 4,398 shares of the company’s stock worth $283,000 after buying an additional 326 shares in the last quarter. Samalin Investment Counsel LLC raised its stake in shares of Kellogg by 8.7% in the 4th quarter. Samalin Investment Counsel LLC now owns 2,635 shares of the company’s stock worth $170,000 after buying an additional 212 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Kellogg by 5.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,767 shares of the company’s stock worth $1,016,000 after buying an additional 774 shares in the last quarter. Institutional investors own 84.34% of the company’s stock.

Kellogg Stock Performance

Shares of K stock opened at $75.04 on Friday. Kellogg has a 1-year low of $59.54 and a 1-year high of $76.45. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $25.35 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 4.73 and a beta of 0.43. The stock’s fifty day simple moving average is $70.98 and its 200-day simple moving average is $67.74.

Kellogg (NYSE:KGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.13. Kellogg had a return on equity of 33.77% and a net margin of 10.21%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Kellogg’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Kellogg will post 4.12 earnings per share for the current fiscal year.

Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.59 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, August 31st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.14%. Kellogg’s payout ratio is currently 53.58%.

Insider Activity

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $74.06, for a total value of $10,824,091.18. Following the transaction, the insider now owns 57,754,909 shares in the company, valued at $4,277,328,560.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 876,918 shares of company stock worth $62,011,256. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on K. Credit Suisse Group boosted their price objective on Kellogg from $62.00 to $69.00 in a research note on Monday, May 9th. Citigroup boosted their price objective on Kellogg from $83.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, June 22nd. Piper Sandler cut Kellogg from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $66.00 to $62.00 in a report on Tuesday, May 3rd. Morgan Stanley lifted their target price on Kellogg from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. Finally, StockNews.com upgraded Kellogg from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Kellogg has an average rating of “Hold” and an average price target of $70.90.

About Kellogg

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Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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