Parallel Advisors LLC trimmed its position in Kellogg (NYSE:K) by 23.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 766 shares of the company’s stock after selling 229 shares during the period. Parallel Advisors LLC’s holdings in Kellogg were worth $41,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Kellogg by 27.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,433,186 shares of the company’s stock valued at $81,709,000 after buying an additional 311,940 shares in the last quarter. Geode Capital Management LLC increased its position in Kellogg by 11.6% in the fourth quarter. Geode Capital Management LLC now owns 3,517,033 shares of the company’s stock worth $200,178,000 after buying an additional 364,719 shares during the period. Advisor Partners LLC increased its position in Kellogg by 7.9% in the first quarter. Advisor Partners LLC now owns 4,090 shares of the company’s stock worth $235,000 after buying an additional 301 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Kellogg in the first quarter worth $821,000. Finally, LS Investment Advisors LLC increased its position in Kellogg by 5.0% in the first quarter. LS Investment Advisors LLC now owns 12,956 shares of the company’s stock worth $743,000 after buying an additional 614 shares during the period. Institutional investors own 87.51% of the company’s stock.
Shares of NYSE:K traded up $0.47 during trading on Wednesday, hitting $62.57. 113,818 shares of the stock were exchanged, compared to its average volume of 2,990,568. Kellogg has a 1-year low of $51.34 and a 1-year high of $74.98. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 3.62 and a beta of 0.61. The company’s fifty day simple moving average is $60.03 and its 200-day simple moving average is $57.22. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.46 and a current ratio of 0.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be given a $0.57 dividend. The ex-dividend date is Friday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 3.64%. Kellogg’s payout ratio is currently 51.73%.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $54.95, for a total transaction of $5,495,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 600,000 shares of company stock worth $34,578,000 over the last quarter. Insiders own 0.09% of the company’s stock.
K has been the topic of several analyst reports. GMP Securities reaffirmed a “buy” rating on shares of Kellogg in a research report on Thursday, July 11th. Morgan Stanley boosted their target price on Kellogg from $56.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Guggenheim boosted their target price on Kellogg from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. TheStreet upgraded Kellogg from a “c+” rating to a “b-” rating in a research report on Monday, August 12th. Finally, ValuEngine upgraded Kellogg from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $63.47.
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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