Kellogg Company (K) Stake Lowered by UMB Bank N A MO
UMB Bank N A MO lowered its position in Kellogg Company (NYSE:K) by 13.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,141 shares of the company’s stock after selling 500 shares during the period. UMB Bank N A MO’s holdings in Kellogg were worth $218,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Washington Trust Bank boosted its stake in Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after buying an additional 15 shares during the last quarter. Exane Derivatives boosted its stake in Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock valued at $134,000 after buying an additional 1,403 shares during the last quarter. Pathstone Family Office LLC bought a new stake in Kellogg during the first quarter valued at $143,000. Security National Trust Co. boosted its stake in Kellogg by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock valued at $150,000 after buying an additional 139 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock valued at $161,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 83.05% of the company’s stock.
Kellogg Company (NYSE K) opened at 69.86 on Tuesday. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 31.63 and a beta of 0.50. Kellogg Company has a 1-year low of $65.32 and a 1-year high of $83.65. The company’s 50-day moving average is $67.88 and its 200 day moving average is $71.51.
Kellogg (NYSE:K) last released its earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, equities analysts predict that Kellogg Company will post $3.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s dividend payout ratio is currently 94.12%.
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K has been the subject of several research reports. BidaskClub cut shares of Kellogg from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Morgan Stanley restated an “equal weight” rating and issued a $69.00 price objective (down previously from $74.00) on shares of Kellogg in a research report on Tuesday, July 18th. Sanford C. Bernstein set a $62.00 price objective on shares of Kellogg and gave the company a “sell” rating in a research report on Tuesday, June 27th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $80.00 price objective (down previously from $82.00) on shares of Kellogg in a research report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.50.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total transaction of $352,163.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. Corporate 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.
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