Kellogg Company (K) Holdings Increased by Janus Henderson Group PLC
Janus Henderson Group PLC grew its stake in shares of Kellogg Company (NYSE:K) by 2,619.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 870,911 shares of the company’s stock after buying an additional 838,882 shares during the quarter. Janus Henderson Group PLC owned about 0.25% of Kellogg worth $60,493,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in shares of Kellogg by 54.7% during the 2nd quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock worth $1,669,244,000 after buying an additional 8,495,714 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Kellogg by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,330,268 shares of the company’s stock worth $1,412,139,000 after buying an additional 56,284 shares in the last quarter. BlackRock Inc. raised its position in shares of Kellogg by 2,851.0% during the 1st quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock worth $1,464,385,000 after buying an additional 19,484,390 shares in the last quarter. State Street Corp raised its position in shares of Kellogg by 1.4% during the 1st quarter. State Street Corp now owns 11,534,453 shares of the company’s stock worth $837,528,000 after buying an additional 154,732 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Kellogg by 94.3% during the 2nd quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock worth $545,047,000 after buying an additional 3,807,425 shares in the last quarter. Institutional investors own 85.40% of the company’s stock.
Shares of Kellogg Company (NYSE K) opened at 62.39 on Friday. The stock’s 50 day moving average is $65.08 and its 200-day moving average is $69.08. Kellogg Company has a 12-month low of $61.03 and a 12-month high of $78.37. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 28.24 and a beta of 0.48.
Kellogg (NYSE:K) last announced its quarterly 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 for 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%. Kellogg’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. On average, analysts anticipate that Kellogg Company will post $3.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, August 30th. Kellogg’s dividend payout ratio (DPR) is currently 97.74%.
A number of research firms recently commented on K. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the stock a “buy” rating in a report on Monday, August 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $69.00 target price (down from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Deutsche Bank AG reiterated a “hold” rating and issued a $74.00 target price (up from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Kellogg in a report on Thursday, August 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $85.00 target price on shares of Kellogg in a report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Kellogg presently has a consensus rating of “Hold” and a consensus target price of $73.73.
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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