Kellogg (NYSE:K) Stock Holdings Increased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Kellogg (NYSE:KGet Rating) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 325,645 shares of the company’s stock after buying an additional 9,442 shares during the quarter. Principal Financial Group Inc. owned approximately 0.10% of Kellogg worth $23,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of K. Mainstay Capital Management LLC ADV grew its holdings in shares of Kellogg by 1.1% during the second quarter. Mainstay Capital Management LLC ADV now owns 12,420 shares of the company’s stock valued at $886,000 after purchasing an additional 140 shares during the last quarter. Northwest Investment Counselors LLC grew its holdings in shares of Kellogg by 0.7% during the second quarter. Northwest Investment Counselors LLC now owns 20,462 shares of the company’s stock valued at $1,460,000 after purchasing an additional 147 shares during the last quarter. CX Institutional grew its holdings in shares of Kellogg by 4.8% during the second quarter. CX Institutional now owns 3,271 shares of the company’s stock valued at $233,000 after purchasing an additional 150 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its holdings in shares of Kellogg by 11.2% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,543 shares of the company’s stock valued at $100,000 after purchasing an additional 156 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Kellogg by 2.3% during the second quarter. Deseret Mutual Benefit Administrators now owns 7,057 shares of the company’s stock valued at $503,000 after purchasing an additional 156 shares during the last quarter. 84.51% of the stock is owned by institutional investors.

Kellogg Price Performance

K opened at $70.61 on Monday. The stock has a fifty day moving average of $71.99 and a 200-day moving average of $71.97. The firm has a market capitalization of $24.10 billion, a P/E ratio of 16.27, a PEG ratio of 4.51 and a beta of 0.46. Kellogg has a 12-month low of $59.54 and a 12-month high of $77.17. The company has a quick ratio of 0.46, a current ratio of 0.74 and a debt-to-equity ratio of 1.20.

Kellogg Announces Dividend

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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, November 30th. Kellogg’s dividend payout ratio (DPR) is presently 54.38%.

Insider Transactions at Kellogg

In other news, major shareholder Kellogg W. K. Foundation Trust sold 200,000 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $70.79, for a total value of $14,158,000.00. Following the transaction, the insider now directly owns 56,231,838 shares of the company’s stock, valued at $3,980,651,812.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Kellogg news, Vice Chairman Gary H. Pilnick sold 113,725 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $74.88, for a total transaction of $8,515,728.00. Following the transaction, the insider now directly owns 1,275 shares of the company’s stock, valued at $95,472. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 200,000 shares of the stock in a transaction on 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 directly 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 814,387 shares of company stock valued at $58,809,063. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on K. BNP Paribas began coverage on Kellogg in a report on Tuesday, November 15th. They issued an “underperform” rating and a $66.00 price objective for the company. Credit Suisse Group increased their price objective on Kellogg to $72.00 in a report on Tuesday, August 9th. StockNews.com began coverage on Kellogg in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Exane BNP Paribas started coverage on Kellogg in a report on Tuesday, November 15th. They issued an “underperform” rating and a $66.00 price objective for the company. Finally, Piper Sandler cut their target price on Kellogg to $72.00 in a research report on Wednesday, October 5th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellogg currently has a consensus rating of “Hold” and an average price target of $71.64.

Kellogg Profile

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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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