Amalgamated Bank Has $4.22 Million Stock Position in Kellogg (NYSE:K)

Amalgamated Bank reduced its holdings in shares of Kellogg (NYSE:KGet Rating) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,405 shares of the company’s stock after selling 1,127 shares during the quarter. Amalgamated Bank’s holdings in Kellogg were worth $4,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hexagon Capital Partners LLC lifted its position in shares of Kellogg by 6.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,490 shares of the company’s stock worth $161,000 after buying an additional 149 shares during the last quarter. Fortitude Advisory Group L.L.C. lifted its position in shares of Kellogg by 11.2% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,543 shares of the company’s stock worth $100,000 after buying an additional 156 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Kellogg by 0.3% during the 1st quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock worth $170,000 after buying an additional 159 shares during the last quarter. Kempen Capital Management N.V. raised its position in Kellogg by 25.3% in the first quarter. Kempen Capital Management N.V. now owns 818 shares of the company’s stock valued at $53,000 after purchasing an additional 165 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Kellogg by 1.9% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,207 shares of the company’s stock valued at $594,000 after purchasing an additional 169 shares during the last quarter. 84.51% of the stock is currently owned by institutional investors.

Kellogg Stock Performance

Shares of Kellogg stock opened at $72.91 on Thursday. The business’s fifty day simple moving average is $73.40 and its 200 day simple moving average is $69.86. The firm has a market capitalization of $24.80 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 4.23 and a beta of 0.43. Kellogg has a 12 month low of $59.54 and a 12 month high of $76.99. The company has a current ratio of 0.70, a quick ratio of 0.43 and a debt-to-equity ratio of 1.28.

Kellogg (NYSE:KGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.13. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.64 billion. Kellogg had a return on equity of 33.77% and a net margin of 10.21%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. As a group, analysts anticipate that Kellogg will post 4.12 EPS for the current year.

Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This is a boost from Kellogg’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a dividend yield of 3.24%. Kellogg’s payout ratio is 54.50%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction on Monday, July 11th. The stock was sold at an average price of $72.68, for a total value of $10,622,400.04. Following the completion of the transaction, the insider now directly owns 57,170,297 shares in the company, valued at $4,155,137,185.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Amit Banati sold 6,960 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $74.00, for a total transaction of $515,040.00. Following the completion of the transaction, the chief financial officer now directly owns 52,772 shares in the company, valued at $3,905,128. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $72.68, for a total value of $10,622,400.04. Following the transaction, the insider now owns 57,170,297 shares of the company’s stock, valued at $4,155,137,185.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 996,199 shares of company stock worth $73,257,333. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

K has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Kellogg from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, June 22nd. Morgan Stanley increased their target price on Kellogg from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, July 14th. Credit Suisse Group increased their price target on Kellogg to $72.00 in a research note on Tuesday, August 9th. Citigroup increased their price target on Kellogg from $83.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, June 22nd. Finally, UBS Group cut Kellogg from a “buy” rating to a “neutral” rating and decreased their price target for the company from $81.00 to $74.00 in a research note on Thursday, July 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Kellogg currently has an average rating of “Hold” and a consensus price target of $71.20.

Kellogg 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

Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg (NYSE:KGet Rating).

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.