Rhumbline Advisers Acquires 40,675 Shares of Kellogg (NYSE:K)

Rhumbline Advisers boosted its holdings in shares of Kellogg (NYSE:KGet Rating) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 470,882 shares of the company’s stock after buying an additional 40,675 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Kellogg worth $33,593,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of Kellogg by 4.1% in the first quarter. BlackRock Inc. now owns 26,845,929 shares of the company’s stock worth $1,731,295,000 after purchasing an additional 1,054,740 shares during the period. Vanguard Group Inc. boosted its position in shares of Kellogg by 2.3% in the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after purchasing an additional 646,828 shares during the period. Acadian Asset Management LLC boosted its position in shares of Kellogg by 30.9% in the first quarter. Acadian Asset Management LLC now owns 1,672,876 shares of the company’s stock worth $107,863,000 after purchasing an additional 394,434 shares during the period. State Street Corp boosted its position in shares of Kellogg by 2.6% in the first quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after purchasing an additional 369,620 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of Kellogg by 382.4% in the second quarter. Retirement Systems of Alabama now owns 408,906 shares of the company’s stock worth $29,171,000 after purchasing an additional 324,138 shares during the period. 84.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on K. StockNews.com began coverage on shares of Kellogg in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. BNP Paribas began coverage on shares of Kellogg in a report on Tuesday, November 15th. They issued an “underperform” rating and a $66.00 target price on the stock. Piper Sandler lowered their target price on shares of Kellogg to $72.00 in a report on Wednesday, October 5th. Exane BNP Paribas began coverage on shares of Kellogg in a report on Tuesday, November 15th. They issued an “underperform” rating and a $66.00 target price on the stock. Finally, Credit Suisse Group boosted their target price on shares of Kellogg to $72.00 in a report on Tuesday, August 9th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellogg currently has an average rating of “Hold” and an average target price of $71.64.

Insider Transactions at Kellogg

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $71.07, for a total transaction of $7,107,000.00. Following the transaction, the insider now directly owns 56,131,838 shares in the company, valued at approximately $3,989,289,726.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $71.07, for a total transaction of $7,107,000.00. Following the transaction, the insider now directly owns 56,131,838 shares in the company, valued at approximately $3,989,289,726.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 200,000 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $70.79, for a total transaction of $14,158,000.00. Following the transaction, the insider now owns 56,231,838 shares in the company, valued at $3,980,651,812.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 914,387 shares of company stock worth $65,916,063. Insiders own 1.40% of the company’s stock.

Kellogg Trading Up 0.7 %

NYSE K opened at $72.51 on Thursday. The company’s 50-day moving average price is $72.00 and its 200-day moving average price is $71.97. The company has a current ratio of 0.74, a quick ratio of 0.46 and a debt-to-equity ratio of 1.20. The stock has a market cap of $24.75 billion, a PE ratio of 16.71, a PEG ratio of 4.61 and a beta of 0.46. Kellogg has a 12 month low of $59.54 and a 12 month high of $77.17.

Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, November 30th. Kellogg’s payout ratio is presently 54.38%.

Kellogg Company Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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