Jones Financial Companies Lllp Reduces Stock Position in Kellogg (NYSE:K)
Jones Financial Companies Lllp lessened its position in shares of Kellogg (NYSE:K) by 10.3% during the 2nd quarter, Holdings Channel reports. The firm owned 3,956 shares of the company’s stock after selling 456 shares during the quarter. Jones Financial Companies Lllp’s holdings in Kellogg were worth $212,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Coastal Investment Advisors Inc. lifted its holdings in shares of Kellogg by 117.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock valued at $30,000 after buying an additional 304 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Kellogg in the 1st quarter valued at about $40,000. AGF Investments LLC lifted its holdings in shares of Kellogg by 39.4% in the 2nd quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after buying an additional 234 shares during the period. Acima Private Wealth LLC lifted its holdings in shares of Kellogg by 90.6% in the 1st quarter. Acima Private Wealth LLC now owns 852 shares of the company’s stock valued at $49,000 after buying an additional 405 shares during the period. Finally, Farmers National Bank acquired a new position in shares of Kellogg in the 1st quarter valued at about $78,000. Institutional investors and hedge funds own 87.51% of the company’s stock.
NYSE:K traded up $0.07 during trading hours on Monday, hitting $63.85. 10,683 shares of the stock were exchanged, compared to its average volume of 3,184,290. Kellogg has a 52-week low of $51.34 and a 52-week high of $74.98. The firm’s fifty day moving average price is $58.14 and its 200 day moving average price is $56.93. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 2.67. The company has a market cap of $21.66 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.63 and a beta of 0.61.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This is a positive change from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, August 30th. Kellogg’s payout ratio is 51.73%.
K has been the subject of several analyst reports. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price objective for the company. in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on Kellogg from $56.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Guggenheim boosted their price objective on Kellogg from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Canaccord Genuity reissued an “average” rating on shares of Kellogg in a report on Tuesday, June 25th. Finally, GMP Securities reissued a “buy” rating on shares of Kellogg in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $63.47.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $54.95, for a total value of $5,495,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 500,000 shares of company stock valued at $28,256,000. 0.09% of the stock is owned by company insiders.
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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