Kellogg Company (K) Stake Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in shares of Kellogg Company (NYSE:K) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,107 shares of the company’s stock after buying an additional 22,582 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of Kellogg worth $11,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in shares of Kellogg by 94.3% during the second quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after buying an additional 3,807,425 shares during the last quarter. CIBC World Markets Inc. lifted its position in Kellogg by 29.1% during the second quarter. CIBC World Markets Inc. now owns 33,225 shares of the company’s stock valued at $2,308,000 after purchasing an additional 7,487 shares during the period. Cim Investment Mangement Inc. bought a new position in Kellogg during the second quarter valued at approximately $563,000. Pacer Advisors Inc. lifted its position in Kellogg by 157.0% during the second quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock valued at $950,000 after purchasing an additional 8,353 shares during the period. Finally, Dupont Capital Management Corp bought a new position in Kellogg during the second quarter valued at approximately $268,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

A number of brokerages recently weighed in on K. Deutsche Bank restated a “hold” rating and set a $74.00 price objective (up previously from $71.00) on shares of Kellogg in a research report on Wednesday, August 9th. UBS lowered their price objective on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Bank of America restated an “underperform” rating and set a $66.00 price objective (down previously from $72.00) on shares of Kellogg in a research report on Monday, October 9th. Piper Jaffray Companies set a $72.00 price target on shares of Kellogg and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Finally, Susquehanna Bancshares set a $71.00 price target on shares of Kellogg and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Kellogg has a consensus rating of “Hold” and an average price target of $71.15.

In related news, CEO Steven A. Cahillane bought 15,930 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was bought at an average cost of $62.70 per share, with a total value of $998,811.00. Following the completion of the purchase, the chief executive officer now owns 15,930 shares of the company’s stock, valued at approximately $998,811. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $65.00, for a total transaction of $207,675.00. The disclosure for this sale can be found here. Insiders have sold a total of 349,754 shares of company stock worth $22,304,119 over the last 90 days. Insiders own 1.30% of the company’s stock.

Kellogg Company (NYSE:K) traded up $0.16 on Thursday, reaching $68.13. 1,890,600 shares of the company’s stock traded hands, compared to its average volume of 2,551,580. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. Kellogg Company has a fifty-two week low of $58.76 and a fifty-two week high of $76.69. The company has a market capitalization of $23,481.77, a P/E ratio of 16.99, a PEG ratio of 2.75 and a beta of 0.52.

Kellogg (NYSE:K) last released its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. research analysts expect that Kellogg Company will post 4.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.17%. Kellogg’s payout ratio is 96.43%.

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Kellogg Profile

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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