Stephens Inc. AR boosted its stake in shares of Kellogg (NYSE:K) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,020 shares of the company’s stock after acquiring an additional 459 shares during the quarter. Stephens Inc. AR’s holdings in Kellogg were worth $644,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Alpha Windward LLC increased its stake in shares of Kellogg by 7.1% in the second quarter. Alpha Windward LLC now owns 2,799 shares of the company’s stock valued at $164,000 after buying an additional 185 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of Kellogg by 3.3% in the first quarter. Moors & Cabot Inc. now owns 6,301 shares of the company’s stock valued at $357,000 after buying an additional 200 shares in the last quarter. 6 Meridian increased its stake in shares of Kellogg by 2.7% in the second quarter. 6 Meridian now owns 8,305 shares of the company’s stock valued at $445,000 after buying an additional 217 shares in the last quarter. AGF Investments LLC increased its stake in shares of Kellogg by 39.4% in the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after buying an additional 234 shares in the last quarter. Finally, World Asset Management Inc increased its stake in shares of Kellogg by 1.4% in the second quarter. World Asset Management Inc now owns 17,892 shares of the company’s stock valued at $958,000 after buying an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.
K has been the subject of a number of research reports. Canaccord Genuity restated an “average” rating on shares of Kellogg in a research note on Tuesday, June 25th. Buckingham Research raised their price target on Kellogg from $67.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. GMP Securities reiterated a “buy” rating on shares of Kellogg in a report on Thursday, July 11th. Guggenheim raised their price target on Kellogg from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price target on the stock. in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Kellogg currently has a consensus rating of “Hold” and a consensus price target of $63.47.
Kellogg (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.08. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter last year, the business earned $1.14 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Kellogg will post 3.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.28 dividend on an annualized basis and a yield of 3.60%. This is a boost from Kellogg’s previous quarterly dividend of $0.56. Kellogg’s dividend payout ratio (DPR) is 51.73%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $54.84, for a total transaction of $5,484,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 600,000 shares of company stock worth $34,578,000. Company insiders own 0.09% of the company’s stock.
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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