Kellogg W. K. Foundation Trust Sells 100,000 Shares of Kellogg (NYSE:K) Stock

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Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $63.22, for a total value of $6,322,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellogg W. K. Foundation Trust also recently made the following trade(s):

  • On Monday, August 12th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $61.51, for a total value of $6,151,000.00.
  • On Monday, July 22nd, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $56.28, for a total value of $5,628,000.00.
  • On Wednesday, July 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $54.98, for a total value of $5,498,000.00.
  • On Thursday, June 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $54.95, for a total value of $5,495,000.00.
  • On Monday, June 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $54.84, for a total value of $5,484,000.00.

Shares of K stock opened at $63.87 on Friday. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 3.69 and a beta of 0.61. The stock has a 50 day simple moving average of $59.30 and a 200-day simple moving average of $57.10. Kellogg has a 12-month low of $51.34 and a 12-month high of $74.98. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 2.67.

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 analysts’ consensus estimates of $0.91 by $0.08. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.41 billion. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. On average, equities analysts forecast that Kellogg will post 3.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.57%. This is a boost from Kellogg’s previous quarterly dividend of $0.56. Kellogg’s dividend payout ratio is currently 51.73%.

Several analysts have commented on the company. Canaccord Genuity reaffirmed an “average” rating on shares of Kellogg in a research note on Tuesday, June 25th. ValuEngine raised Kellogg from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Guggenheim increased their target price on Kellogg from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Consumer Edge downgraded Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 target price for the company. in a research note on Monday, June 24th. Finally, GMP Securities reissued a “buy” rating on shares of Kellogg in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.47.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Coastal Investment Advisors Inc. grew its holdings in shares of Kellogg by 117.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock worth $30,000 after acquiring an additional 304 shares during the period. Penserra Capital Management LLC acquired a new stake in Kellogg during the 1st quarter valued at $40,000. AGF Investments LLC grew its holdings in Kellogg by 39.4% during the 2nd quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after buying an additional 234 shares during the last quarter. WealthStone Inc. acquired a new stake in Kellogg during the 2nd quarter valued at $48,000. Finally, Acima Private Wealth LLC grew its holdings in Kellogg by 90.6% during the 1st quarter. Acima Private Wealth LLC now owns 852 shares of the company’s stock valued at $49,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

About Kellogg

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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