Traders Sell Shares of Kellogg Company (K) on Strength (K)
Traders sold shares of Kellogg Company (NYSE:K) on strength during trading on Friday. $35.34 million flowed into the stock on the tick-up and $114.76 million flowed out of the stock on the tick-down, for a money net flow of $79.42 million out of the stock. Of all companies tracked, Kellogg had the 0th highest net out-flow for the day. Kellogg traded up $0.08 for the day and closed at $65.36
K has been the subject of a number of recent analyst reports. UBS AG decreased their target price on Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Buckingham Research decreased their target price on Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Royal Bank Of Canada upped their target price on Kellogg from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 1st. Piper Jaffray Companies set a $72.00 target price on Kellogg and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Finally, Susquehanna Bancshares Inc set a $71.00 target price on Kellogg and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Kellogg has an average rating of “Hold” and an average target price of $71.00.
The stock has a market capitalization of $22,580.12, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.64 and a beta of 0.49. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71.
Kellogg (NYSE:K) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. Kellogg had a return on equity of 63.35% and a net margin of 8.98%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. research analysts anticipate that Kellogg Company will post 4.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.30%. Kellogg’s dividend payout ratio (DPR) is presently 96.43%.
In related news, Director Donald R. Knauss sold 6,846 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total value of $428,354.22. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $312,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Jenness sold 26,592 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $63.08, for a total value of $1,677,423.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,438 shares of company stock valued at $14,077,678. Corporate insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings 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 purchasing an additional 15 shares in the last quarter. CLS Investments LLC acquired a new position in shares of Kellogg in the third quarter valued at $124,000. Alpha Windward LLC raised its stake in shares of Kellogg by 0.4% in the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock valued at $179,000 after purchasing an additional 11 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Kellogg in the second quarter valued at $217,000. Finally, FDO Partners LLC acquired a new position in shares of Kellogg in the third quarter valued at $219,000. Institutional investors and hedge funds own 86.61% of the company’s stock.
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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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