Miracle Mile Advisors LLC purchased a new stake in Kellogg (NYSE:K) during the second quarter, according to its most recent filing with the SEC. The fund purchased 20,000 shares of the company’s stock, valued at approximately $1,397,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NuWave Investment Management LLC bought a new stake in shares of Kellogg in the 1st quarter worth about $139,000. QCI Asset Management Inc. NY increased its holdings in shares of Kellogg by 985.2% in the 1st quarter. QCI Asset Management Inc. NY now owns 2,203 shares of the company’s stock worth $143,000 after buying an additional 2,000 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Kellogg in the 2nd quarter worth about $201,000. Oakbrook Investments LLC bought a new stake in shares of Kellogg in the 2nd quarter worth about $203,000. Finally, Hyman Charles D bought a new stake in shares of Kellogg in the 2nd quarter worth about $203,000. Institutional investors own 89.87% of the company’s stock.

In other Kellogg news, CFO Fareed A. Khan purchased 8,080 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was purchased at an average price of $61.78 per share, with a total value of $499,182.40. Following the transaction, the chief financial officer now owns 8,080 shares of the company’s stock, valued at $499,182.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $65.64, for a total transaction of $16,410,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 778,647 shares of company stock valued at $53,870,364. 1.40% of the stock is owned by corporate insiders.

K has been the subject of a number of recent analyst reports. Susquehanna Bancshares set a $65.00 price target on shares of Kellogg and gave the stock a “hold” rating in a research note on Wednesday, May 9th. Wells Fargo & Co reaffirmed a “hold” rating and set a $67.00 price target (up from $62.00) on shares of Kellogg in a research note on Sunday, August 5th. ValuEngine raised shares of Kellogg from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Morgan Stanley dropped their price target on shares of Kellogg from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Friday, May 4th. Finally, Credit Suisse Group set a $68.00 price target on shares of Kellogg and gave the stock a “hold” rating in a research note on Tuesday, June 12th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.39.

Kellogg stock opened at $73.10 on Friday. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.08 and a beta of 0.51. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.82 and a quick ratio of 0.50. Kellogg has a 1 year low of $56.40 and a 1 year high of $73.31.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Kellogg had a net margin of 13.33% and a return on equity of 59.68%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. research analysts expect that Kellogg will post 4.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.06%. This is a boost from Kellogg’s previous quarterly dividend of $0.54. The ex-dividend date is Friday, August 31st. Kellogg’s payout ratio is 53.47%.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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