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.
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%.
TRADEMARK VIOLATION NOTICE: This story was first published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.tickerreport.com/banking-finance/3079769/kellogg-company-k-stake-raised-by-envestnet-asset-management-inc.html.
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.
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with MarketBeat.com's FREE daily email newsletter.