Kellogg (NYSE:K – Get 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:K – Get 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
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.
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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