Jacobi Capital Management LLC grew its position in Kellogg (NYSE:K – Get Rating) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,373 shares of the company’s stock after purchasing an additional 1,070 shares during the period. Jacobi Capital Management LLC’s holdings in Kellogg were worth $604,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its position in Kellogg by 2.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 272,637 shares of the company’s stock worth $17,563,000 after purchasing an additional 6,100 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Kellogg during the 4th quarter valued at about $420,000. Wetherby Asset Management Inc. increased its holdings in shares of Kellogg by 8.0% during the 4th quarter. Wetherby Asset Management Inc. now owns 4,398 shares of the company’s stock valued at $283,000 after acquiring an additional 326 shares during the last quarter. Samalin Investment Counsel LLC increased its holdings in shares of Kellogg by 8.7% during the 4th quarter. Samalin Investment Counsel LLC now owns 2,635 shares of the company’s stock valued at $170,000 after acquiring an additional 212 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Kellogg by 5.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,767 shares of the company’s stock valued at $1,016,000 after purchasing an additional 774 shares during the period. 84.34% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Kellogg
In related news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $66.92, for a total transaction of $9,780,558.76. Following the completion of the sale, the insider now directly owns 57,608,756 shares of the company’s stock, valued at approximately $3,855,177,951.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 876,918 shares of company stock valued at $62,011,256. Corporate insiders own 1.40% of the company’s stock.
Analyst Ratings Changes
Kellogg Trading Up 1.7 %
Shares of K opened at $75.04 on Friday. Kellogg has a 1 year low of $59.54 and a 1 year high of $76.45. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $70.98 and a 200-day simple moving average of $67.74. The stock has a market cap of $25.35 billion, a PE ratio of 17.33, a PEG ratio of 4.73 and a beta of 0.43.
Kellogg (NYSE:K – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.13. Kellogg had a return on equity of 33.77% and a net margin of 10.21%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the firm posted $1.14 EPS. Kellogg’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Kellogg will post 4.12 EPS for the current fiscal year.
Kellogg Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This is a boost from Kellogg’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.14%. Kellogg’s dividend payout ratio is presently 53.58%.
Kellogg Company, together with its subsidiaries, manufactures and markets snacks 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, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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