Zevin Asset Management LLC Has $274,000 Stake in Kellogg Company (K)
Zevin Asset Management LLC maintained its position in Kellogg Company (NYSE:K) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,950 shares of the company’s stock at the end of the second quarter. Zevin Asset Management LLC’s holdings in Kellogg were worth $274,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Cim Investment Mangement Inc. acquired a new stake in Kellogg during the second quarter worth about $563,000. Principal Financial Group Inc. increased its stake in Kellogg by 3.2% in the second quarter. Principal Financial Group Inc. now owns 395,165 shares of the company’s stock worth $27,448,000 after buying an additional 12,140 shares during the last quarter. IndexIQ Advisors LLC increased its stake in Kellogg by 1.3% in the second quarter. IndexIQ Advisors LLC now owns 8,085 shares of the company’s stock worth $561,000 after buying an additional 102 shares during the last quarter. Sage Capital Advisors llc acquired a new stake in Kellogg during the second quarter worth about $837,000. Finally, Tobam increased its stake in Kellogg by 22.1% in the second quarter. Tobam now owns 62,239 shares of the company’s stock worth $4,323,000 after buying an additional 11,264 shares during the last quarter. 85.41% of the stock is currently owned by hedge funds and other institutional investors.
Kellogg Company (NYSE:K) traded down 0.62% during mid-day trading on Thursday, hitting $65.64. 292,113 shares of the company’s stock traded hands. Kellogg Company has a one year low of $65.16 and a one year high of $83.37. The stock has a market cap of $22.65 billion, a PE ratio of 29.71 and a beta of 0.50. The firm’s 50-day moving average price is $68.07 and its 200-day moving average price is $71.33.
Kellogg (NYSE:K) last announced its earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. On average, analysts forecast that Kellogg Company will post $3.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s dividend payout ratio (DPR) is 94.12%.
Several equities research analysts have recently weighed in on K shares. Zacks Investment Research downgraded shares of Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Susquehanna Bancshares Inc set a $78.00 target price on shares of Kellogg and gave the company a “hold” rating in a research note on Thursday, May 4th. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the company a “buy” rating in a research note on Monday, August 7th. Credit Suisse Group reduced their target price on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, May 5th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $69.00 target price (down previously from $74.00) on shares of Kellogg in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $74.50.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.
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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