Guggenheim Capital LLC reduced its holdings in shares of Kellogg (NYSE:K) by 15.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 264,951 shares of the company’s stock after selling 48,845 shares during the quarter. Guggenheim Capital LLC owned 0.08% of Kellogg worth $15,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of K. State Street Corp increased its stake in shares of Kellogg by 0.8% in the first quarter. State Street Corp now owns 13,680,630 shares of the company’s stock worth $820,701,000 after purchasing an additional 113,082 shares in the last quarter. Capital World Investors lifted its stake in shares of Kellogg by 5.9% in the 1st quarter. Capital World Investors now owns 12,601,709 shares of the company’s stock valued at $755,977,000 after purchasing an additional 700,000 shares during the last quarter. Capital Research Global Investors lifted its position in Kellogg by 9.6% in the fourth quarter. Capital Research Global Investors now owns 7,839,434 shares of the company’s stock worth $542,175,000 after buying an additional 687,254 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Kellogg by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 5,747,463 shares of the company’s stock worth $344,790,000 after purchasing an additional 692,620 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Kellogg by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 3,873,350 shares of the company’s stock valued at $267,326,000 after buying an additional 163,783 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Several research firms have commented on K. Credit Suisse Group started coverage on Kellogg in a report on Tuesday, June 2nd. They set a “buy” rating and a $76.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Kellogg from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Sanford C. Bernstein downgraded Kellogg from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $64.00 to $55.00 in a report on Thursday, June 11th. Morgan Stanley boosted their price objective on shares of Kellogg from $66.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $71.00 target price on shares of Kellogg in a research report on Monday, May 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Kellogg currently has a consensus rating of “Hold” and an average target price of $68.88.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $66.72, for a total value of $6,672,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 400,000 shares of company stock valued at $26,127,000 over the last three months. 1.10% of the stock is currently owned by insiders.

K stock traded down $0.73 during midday trading on Friday, hitting $64.78. 25,330 shares of the company’s stock were exchanged, compared to its average volume of 2,816,674. Kellogg has a 1-year low of $52.66 and a 1-year high of $71.05. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $22.23 billion, a PE ratio of 21.79, a P/E/G ratio of 4.46 and a beta of 0.57. The business has a 50-day simple moving average of $64.66 and a two-hundred day simple moving average of $65.25.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Kellogg had a return on equity of 41.25% and a net margin of 7.61%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. As a group, research analysts expect that Kellogg will post 3.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.28 dividend on an annualized basis and a yield of 3.52%. Kellogg’s dividend payout ratio (DPR) is presently 57.87%.

Kellogg Company Profile

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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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