Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Thursday, January 10th. The stock was sold at an average price of $58.24, for a total transaction of $5,824,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellogg W. K. Foundation Trust also recently made the following trade(s):

  • On Thursday, December 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $57.69, for a total transaction of $5,769,000.00.
  • On Monday, December 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $59.94, for a total transaction of $5,994,000.00.
  • On Tuesday, November 20th, Kellogg W. K. Foundation Trust sold 180,000 shares of Kellogg stock. The stock was sold at an average price of $62.24, for a total transaction of $11,203,200.00.

K stock opened at $58.29 on Friday. The firm has a market cap of $20.11 billion, a PE ratio of 14.43, a PEG ratio of 2.19 and a beta of 0.61. The company has a quick ratio of 0.52, a current ratio of 0.84 and a debt-to-equity ratio of 2.41. Kellogg has a twelve month low of $55.11 and a twelve month high of $74.98.

Kellogg (NYSE:K) last released its quarterly earnings data on Wednesday, October 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Kellogg’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Kellogg will post 4.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 3rd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Friday, November 30th. Kellogg’s payout ratio is 55.45%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Kellogg by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock worth $372,017,000 after purchasing an additional 1,076,748 shares during the period. Millennium Management LLC increased its holdings in Kellogg by 61.8% in the 2nd quarter. Millennium Management LLC now owns 2,418,179 shares of the company’s stock valued at $168,958,000 after acquiring an additional 923,365 shares during the last quarter. Putnam Investments LLC increased its holdings in shares of Kellogg by 25,701.7% in the 2nd quarter. Putnam Investments LLC now owns 851,713 shares of the company’s stock worth $59,509,000 after buying an additional 848,412 shares during the last quarter. Morgan Stanley boosted its stake in shares of Kellogg by 70.2% during the 3rd quarter. Morgan Stanley now owns 1,730,012 shares of the company’s stock worth $121,137,000 after purchasing an additional 713,311 shares during the period. Finally, Vanguard Group Inc boosted its position in Kellogg by 3.4% in the 3rd quarter. Vanguard Group Inc now owns 21,245,966 shares of the company’s stock valued at $1,487,643,000 after buying an additional 696,685 shares during the period. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Several research firms have recently weighed in on K. Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Argus cut their target price on shares of Kellogg from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Piper Jaffray Companies set a $79.00 target price on shares of Kellogg and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Deutsche Bank cut their target price on shares of Kellogg from $73.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, November 1st. Finally, ValuEngine lowered shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.94.

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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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