Kellogg (NYSE:K) Shares Acquired by Cambridge Trust Co.

Cambridge Trust Co. grew its position in Kellogg (NYSE:K – Get Rating) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,100 shares of the company’s stock after buying an additional 400 shares during the quarter. Cambridge Trust Co.’s holdings in Kellogg were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allianz Asset Management GmbH grew its stake in shares of Kellogg by 2.3% in the third quarter. Allianz Asset Management GmbH now owns 142,158 shares of the company’s stock valued at $9,903,000 after buying an additional 3,220 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in Kellogg by 12.9% in the third quarter. Ameritas Advisory Services LLC now owns 5,018 shares of the company’s stock valued at $350,000 after purchasing an additional 574 shares during the period. Natixis boosted its holdings in Kellogg by 44.2% in the second quarter. Natixis now owns 107,581 shares of the company’s stock valued at $7,680,000 after purchasing an additional 32,989 shares during the period. MGO One Seven LLC purchased a new position in Kellogg in the second quarter valued at $300,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Kellogg by 11.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 29,530 shares of the company’s stock valued at $2,057,000 after purchasing an additional 2,935 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

K has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their target price on Kellogg from $74.00 to $72.00 in a report on Monday, January 30th. TheStreet downgraded Kellogg from a “b” rating to a “c+” rating in a report on Thursday, February 9th. Credit Suisse Group decreased their price target on Kellogg from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Friday, February 10th. Morgan Stanley lifted their price target on Kellogg from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 20th. Finally, StockNews.com raised Kellogg from a “hold” rating to a “buy” rating in a report on Monday, March 13th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.11.

Kellogg Stock Down 0.4 %

K opened at $64.74 on Friday. The stock has a market capitalization of $22.13 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.68 and a beta of 0.42. Kellogg has a one year low of $60.22 and a one year high of $77.17. The business’s 50-day simple moving average is $67.35 and its 200-day simple moving average is $70.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.38 and a current ratio of 0.66.

Kellogg (NYSE:K – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Kellogg had a return on equity of 32.51% and a net margin of 6.27%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Analysts anticipate that Kellogg will post 4.04 EPS for the current year.

Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.65%. The ex-dividend date was Tuesday, February 28th. Kellogg’s dividend payout ratio (DPR) is presently 84.59%.

Kellogg announced that its Board of Directors has approved a stock buyback program on Monday, December 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Kellogg

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $70.74, for a total transaction of $7,074,000.00. Following the transaction, the insider now owns 55,931,838 shares in the company, valued at approximately $3,956,618,220.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Vice Chairman Gary H. Pilnick sold 22,197 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $68.81, for a total transaction of $1,527,375.57. Following the sale, the insider now owns 23,464 shares of the company’s stock, valued at approximately $1,614,557.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $70.74, for a total value of $7,074,000.00. Following the sale, the insider now directly owns 55,931,838 shares in the company, valued at approximately $3,956,618,220.12. The disclosure for this sale can be found here. Insiders have sold 528,437 shares of company stock worth $35,770,511 in the last quarter. Company insiders own 1.40% of the company’s stock.

Kellogg Profile

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Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. It operates through the following segments: North America, Europe, Latin America, and Asia Middle East Africa. The North America segment includes the U.S. businesses and Canada. The Europe segment consists of European countries.