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

Kellogg (NYSE:KGet Rating) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $72.49, for a total transaction of $7,249,000.00. Following the completion of the transaction, the insider now owns 56,631,838 shares in the company, valued at $4,105,241,936.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellogg Stock Up 0.8 %

K opened at $72.64 on Tuesday. The firm has a 50 day moving average price of $73.63 and a 200 day moving average price of $69.59. The company has a market cap of $24.71 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 4.27 and a beta of 0.43. Kellogg has a 1 year low of $59.54 and a 1 year high of $76.99. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.43 and a current ratio of 0.70.

Kellogg (NYSE:KGet Rating) last posted 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. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.64 billion. Kellogg had a net margin of 10.21% and a return on equity of 33.77%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Sell-side analysts expect that Kellogg will post 4.12 earnings per share for the current year.

Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a $0.59 dividend. This is an increase from Kellogg’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.36 annualized dividend and a yield of 3.25%. Kellogg’s dividend payout ratio (DPR) is 54.50%.

Institutional Trading of Kellogg

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Kellogg by 2.3% during the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after buying an additional 646,828 shares in the last quarter. BlackRock Inc. grew its position in shares of Kellogg by 4.1% during the first quarter. BlackRock Inc. now owns 26,845,929 shares of the company’s stock worth $1,731,295,000 after buying an additional 1,054,740 shares in the last quarter. State Street Corp grew its position in shares of Kellogg by 1.2% during the second quarter. State Street Corp now owns 14,869,386 shares of the company’s stock worth $1,060,782,000 after buying an additional 173,266 shares in the last quarter. Beutel Goodman & Co Ltd. grew its position in shares of Kellogg by 2.1% during the first quarter. Beutel Goodman & Co Ltd. now owns 5,196,773 shares of the company’s stock worth $335,139,000 after buying an additional 106,335 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Kellogg by 6.3% during the first quarter. Invesco Ltd. now owns 5,137,164 shares of the company’s stock worth $331,296,000 after buying an additional 302,388 shares in the last quarter. Institutional investors and hedge funds own 84.51% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent research reports. UBS Group lowered shares of Kellogg from a “buy” rating to a “neutral” rating and reduced their target price for the company from $81.00 to $74.00 in a report on Thursday, July 7th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $67.00 target price (up from $64.00) on shares of Kellogg in a report on Wednesday, June 22nd. Citigroup increased their price objective on shares of Kellogg from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, June 22nd. Morgan Stanley increased their price objective on shares of Kellogg from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kellogg from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Kellogg currently has a consensus rating of “Hold” and an average target price of $71.20.

About Kellogg

(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.

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