Candriam Luxembourg S.C.A. cut its position in Kellogg Co. (NYSE:K) by 30.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,038 shares of the company’s stock after selling 5,285 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Kellogg were worth $983,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Teachers Advisors Inc. increased its stake in shares of Kellogg by 11.5% in the first quarter. Teachers Advisors Inc. now owns 587,850 shares of the company’s stock worth $45,000,000 after buying an additional 60,670 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Kellogg by 3.9% in the first quarter. BlackRock Group LTD now owns 2,313,154 shares of the company’s stock worth $177,072,000 after buying an additional 86,185 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Kellogg by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,261,472 shares of the company’s stock worth $555,866,000 after buying an additional 294,789 shares during the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of Kellogg by 0.4% in the first quarter. BlackRock Japan Co. Ltd now owns 343,797 shares of the company’s stock worth $26,318,000 after buying an additional 1,334 shares during the last quarter. Finally, Tobam bought a new stake in shares of Kellogg during the first quarter worth approximately $141,000. Hedge funds and other institutional investors own 81.75% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded up 0.49% on Friday, reaching $76.34. The company had a trading volume of 2,190,804 shares. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 43.67 and a beta of 0.47. The firm has a 50-day moving average price of $79.37 and a 200 day moving average price of $78.70. Kellogg Co. has a 1-year low of $64.65 and a 1-year high of $87.16.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.91. Kellogg had a return on equity of 56.33% and a net margin of 4.71%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts predict that Kellogg Co. will post $0.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Tuesday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.50. Kellogg’s payout ratio is currently 119.54%.
K has been the topic of a number of recent research reports. Credit Suisse Group AG restated an “outperform” rating on shares of Kellogg in a research note on Wednesday, July 6th. Deutsche Bank AG upped their target price on Kellogg from $74.00 to $78.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Susquehanna restated a “hold” rating on shares of Kellogg in a research note on Wednesday, August 3rd. Royal Bank Of Canada upped their target price on Kellogg from $82.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Friday, August 5th. Finally, Argus reaffirmed a “hold” rating on shares of Kellogg in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $81.65.
In other news, insider Paul T. Norman sold 95,875 shares of Kellogg stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $82.63, for a total transaction of $7,922,151.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronald L. Dissinger sold 6,000 shares of Kellogg stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $83.71, for a total transaction of $502,260.00. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
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