WINTON GROUP Ltd Buys New Stake in Kellogg Company (K)
WINTON GROUP Ltd bought a new stake in Kellogg Company (NYSE:K) during the first quarter, Holdings Channel reports. The firm bought 22,902 shares of the company’s stock, valued at approximately $1,774,000.
A number of other large investors have also recently bought and sold shares of the company. Cigna Investments Inc. New purchased a new stake in Kellogg Company during the fourth quarter valued at $680,000. Zurich Insurance Group Ltd FI raised its stake in Kellogg Company by 1.1% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 19,853 shares of the company’s stock valued at $1,463,000 after buying an additional 223 shares during the period. Dimensional Fund Advisors LP raised its stake in Kellogg Company by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 566,544 shares of the company’s stock valued at $41,761,000 after buying an additional 18,532 shares during the period. UBS Asset Management Americas Inc. raised its stake in Kellogg Company by 2.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 875,643 shares of the company’s stock valued at $64,543,000 after buying an additional 18,768 shares during the period. Finally, Toronto Dominion Bank raised its stake in Kellogg Company by 28.8% in the first quarter. Toronto Dominion Bank now owns 108,255 shares of the company’s stock valued at $7,866,000 after buying an additional 24,223 shares during the period. Institutional investors own 83.70% of the company’s stock.
Shares of Kellogg Company (NYSE K) traded down 1.67% during midday trading on Friday, hitting $71.88. 3,595,785 shares of the company were exchanged. The firm’s 50 day moving average price is $71.66 and its 200 day moving average price is $72.80. The firm has a market capitalization of $25.18 billion, a price-to-earnings ratio of 32.52 and a beta of 0.49. Kellogg Company has a one year low of $68.67 and a one year high of $87.16.
Kellogg Company (NYSE:K) last issued its earnings results on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. Kellogg Company had a net margin of 6.07% and a return on equity of 67.99%. Kellogg Company’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. Analysts forecast that Kellogg Company will post $3.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Tuesday, May 30th. Kellogg Company’s dividend payout ratio is presently 94.55%.
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Several equities research analysts have weighed in on K shares. Sanford C. Bernstein lowered shares of Kellogg Company from a “market perform” rating to an “underperform” rating in a report on Tuesday, March 21st. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $80.00 target price (down from $82.00) on shares of Kellogg Company in a report on Tuesday, April 25th. Credit Suisse Group cut their target price on shares of Kellogg Company from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Zacks Investment Research lowered shares of Kellogg Company from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Finally, Piper Jaffray Companies started coverage on shares of Kellogg Company in a report on Wednesday, May 24th. They issued an “overweight” rating and a $78.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.33.
In related news, Director John T. Dillon sold 4,900 shares of the 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 document filed with the SEC, which can be accessed through this link. Also, Director James M. Jenness sold 70,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $71.06, for a total transaction of $4,974,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,900 shares of company stock worth $7,178,363. 1.30% of the stock is owned by insiders.
Kellogg Company 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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