Mascoma Wealth Management LLC Maintains Stake in Kellogg Company (NYSE:K)
Mascoma Wealth Management LLC continued to hold its stake in Kellogg Company (NYSE:K) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the company’s stock at the end of the second quarter. Mascoma Wealth Management LLC’s holdings in Kellogg were worth $208,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Kellogg by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 566,544 shares of the company’s stock worth $41,761,000 after buying an additional 18,532 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Kellogg by 2.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 875,643 shares of the company’s stock valued at $64,543,000 after buying an additional 18,768 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Kellogg during the fourth quarter valued at about $1,351,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Kellogg during the fourth quarter valued at about $603,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Kellogg during the fourth quarter valued at about $3,315,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.
Kellogg Company (K) opened at 70.11 on Tuesday. The company has a 50-day moving average price of $68.54 and a 200-day moving average price of $71.70. The firm has a market cap of $24.56 billion, a P/E ratio of 31.72 and a beta of 0.50. Kellogg Company has a 1-year low of $65.32 and a 1-year high of $84.28.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, equities research analysts forecast that Kellogg Company will post $3.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. This is a boost from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s dividend payout ratio (DPR) is presently 94.12%.
Several equities research analysts have issued reports on the stock. UBS AG reissued a “neutral” rating and issued a $72.00 price target (down previously from $76.00) on shares of Kellogg in a report on Tuesday, July 18th. BMO Capital Markets lowered their target price on shares of Kellogg from $85.00 to $78.00 and set a “market perform” rating on the stock in a report on Friday. Royal Bank Of Canada decreased their price objective on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 1st. Credit Suisse Group decreased their price objective on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, May 15th. Finally, TheStreet upgraded shares of Kellogg from a “c+” rating to a “b+” rating in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $74.67.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John T. Dillon sold 4,900 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
Receive News & Stock Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related stocks with our FREE daily email newsletter.