Creative Financial Designs Inc. ADV Buys 756 Shares of Kellogg (NYSE:K)


Share on StockTwits

Creative Financial Designs Inc. ADV lifted its stake in shares of Kellogg (NYSE:K) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,065 shares of the company’s stock after purchasing an additional 756 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Kellogg were worth $1,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Kellogg during the 4th quarter valued at $134,626,000. Beutel Goodman & Co Ltd. grew its position in Kellogg by 22.0% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,751,647 shares of the company’s stock valued at $233,464,000 after acquiring an additional 677,403 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Kellogg during the fourth quarter worth approximately $40,259,000. Lazard Asset Management LLC boosted its stake in shares of Kellogg by 167.7% in the 4th quarter. Lazard Asset Management LLC now owns 805,767 shares of the company’s stock valued at $50,142,000 after purchasing an additional 504,765 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Kellogg by 17.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,751,494 shares of the company’s stock valued at $171,225,000 after purchasing an additional 413,570 shares during the last quarter. 86.08% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently commented on K shares. Jefferies Financial Group decreased their price objective on Kellogg from $69.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, January 12th. JPMorgan Chase & Co. dropped their price target on shares of Kellogg from $67.00 to $58.00 in a research report on Tuesday, January 19th. Citigroup lowered their price objective on shares of Kellogg from $75.00 to $72.00 in a research note on Tuesday, February 16th. Piper Sandler downgraded Kellogg from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $76.00 to $66.00 in a report on Tuesday, January 5th. Finally, Morgan Stanley dropped their price objective on Kellogg from $64.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Kellogg currently has a consensus rating of “Hold” and a consensus price target of $66.83.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the firm’s stock in a transaction on Wednesday, January 20th. The shares were sold at an average price of $57.45, for a total transaction of $4,787,538.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 500,001 shares of company stock worth $29,756,725 in the last ninety days. Insiders own 1.10% of the company’s stock.

NYSE K traded up $0.71 during trading hours on Tuesday, hitting $64.41. 62,322 shares of the company’s stock traded hands, compared to its average volume of 3,405,332. Kellogg has a 52 week low of $56.61 and a 52 week high of $72.88. The firm has a market capitalization of $21.92 billion, a P/E ratio of 18.41, a P/E/G ratio of 3.71 and a beta of 0.60. The company has a current ratio of 0.79, a quick ratio of 0.58 and a debt-to-equity ratio of 1.95. The business’s fifty day moving average price is $61.57 and its two-hundred day moving average price is $61.93.

Kellogg (NYSE:K) last posted its quarterly earnings data on Wednesday, February 10th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.03). The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Kellogg had a return on equity of 41.23% and a net margin of 8.80%. On average, sell-side analysts expect that Kellogg will post 4.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Tuesday, March 9th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.54%. Kellogg’s dividend payout ratio (DPR) is presently 57.87%.

Kellogg Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars and bites, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

Read More: Marijuana Stocks Investing Considerations

Institutional Ownership by Quarter for Kellogg (NYSE:K)

Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.