Ray Gerald L & Associates Ltd. Has $846,000 Position in Kellogg Company (K)
Ray Gerald L & Associates Ltd. continued to hold its stake in Kellogg Company (NYSE:K) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,175 shares of the company’s stock at the end of the second quarter. Ray Gerald L & Associates Ltd.’s holdings in Kellogg were worth $846,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the stock. Washington Trust Bank raised its stake in shares of Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after buying an additional 15 shares during the period. Exane Derivatives raised its stake in shares of Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock valued at $134,000 after buying an additional 1,403 shares during the period. Pathstone Family Office LLC purchased a new stake in shares of Kellogg during the first quarter valued at about $143,000. Bronfman E.L. Rothschild L.P. raised its stake 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 valued at $161,000 after buying an additional 31 shares during the period. Finally, CWM LLC raised its stake in shares of Kellogg by 5.3% in the second quarter. CWM LLC now owns 2,343 shares of the company’s stock valued at $163,000 after buying an additional 117 shares during the period. 85.41% of the stock is owned by institutional investors.
Shares of Kellogg Company (NYSE K) opened at 66.30 on Wednesday. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 30.01 and a beta of 0.50. The stock has a 50 day moving average price of $68.07 and a 200-day moving average price of $71.33. Kellogg Company has a 1-year low of $65.32 and a 1-year high of $83.37.
Kellogg (NYSE:K) last posted its earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. Equities research analysts forecast that Kellogg Company will post $3.98 earnings per share for the current year.
The business also recently announced 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 represents a $2.16 dividend on an annualized basis and a dividend yield of 3.26%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, August 30th. Kellogg’s dividend payout ratio (DPR) is 94.12%.
Several brokerages have issued reports on K. Deutsche Bank AG reaffirmed a “hold” rating and set a $74.00 price target (up previously from $71.00) on shares of Kellogg in a research note on Wednesday, August 9th. Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the stock a “buy” rating in a research note on Monday, August 7th. Royal Bank Of Canada lifted their price target on Kellogg from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Monday, August 7th. BMO Capital Markets dropped their price target on Kellogg from $85.00 to $78.00 and set a “market perform” rating for the company in a research note on Friday, August 4th. Finally, Zacks Investment Research lowered Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Kellogg presently has an average rating of “Hold” and an average price target of $74.50.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total transaction of $352,163.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The disclosure for this sale can be found here. Company 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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