Kellogg Company (K) Shares Sold by American Century Companies Inc.
American Century Companies Inc. lowered its position in Kellogg Company (NYSE:K) by 23.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,235,865 shares of the company’s stock after selling 669,515 shares during the period. American Century Companies Inc. owned about 0.64% of Kellogg worth $155,303,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its stake in Kellogg by 4.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,019 shares of the company’s stock worth $477,000 after buying an additional 290 shares during the period. UMB Bank N A MO boosted its stake in Kellogg by 29.1% in the first quarter. UMB Bank N A MO now owns 3,641 shares of the company’s stock worth $264,000 after buying an additional 820 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in Kellogg during the first quarter worth approximately $363,000. Whittier Trust Co. boosted its stake in Kellogg by 1.0% in the first quarter. Whittier Trust Co. now owns 3,085 shares of the company’s stock worth $224,000 after buying an additional 31 shares during the period. Finally, Welch & Forbes LLC boosted its stake in Kellogg by 17.6% in the first quarter. Welch & Forbes LLC now owns 8,301 shares of the company’s stock worth $603,000 after buying an additional 1,241 shares during the period. Institutional investors and hedge funds own 83.05% of the company’s stock.
Kellogg Company (NYSE:K) opened at 67.71 on Friday. The company has a 50-day moving average price of $68.07 and a 200 day moving average price of $71.33. Kellogg Company has a 12 month low of $65.32 and a 12 month high of $83.23. The firm has a market cap of $23.37 billion, a PE ratio of 30.65 and a beta of 0.50.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.91 earnings per share. Equities research analysts anticipate that Kellogg Company will post $3.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.19%. Kellogg’s payout ratio is 94.12%.
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A number of analysts have recently commented on K shares. Susquehanna Bancshares Inc set a $78.00 target price on Kellogg and gave the stock a “hold” rating in a research report on Thursday, May 4th. Royal Bank Of Canada cut their target price on Kellogg from $84.00 to $81.00 and set a “sector perform” rating on the stock in a research report on Friday, May 5th. UBS AG cut their target price on Kellogg from $81.00 to $76.00 and set a “neutral” rating on the stock in a research report on Friday, May 5th. Credit Suisse Group cut their target price on Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, May 5th. Finally, TheStreet upgraded Kellogg from a “c+” rating to a “b+” rating in a research report on Thursday, May 4th. Two research 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. Kellogg has a consensus rating of “Hold” and a consensus price target of $74.50.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the business’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 disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
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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