Kellogg Company (K) Director James M. Jenness Sells 26,592 Shares of Stock
Kellogg Company (NYSE:K) Director James M. Jenness sold 26,592 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $63.08, for a total transaction of $1,677,423.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kellogg Company (NYSE:K) opened at $63.76 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71. Kellogg Company has a 1 year low of $58.76 and a 1 year high of $76.69. The firm has a market cap of $22,352.08, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49.
Kellogg (NYSE:K) last issued its earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. equities analysts anticipate that Kellogg Company will post 4.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.16 annualized dividend and a yield of 3.39%. Kellogg’s payout ratio is currently 96.43%.
A number of institutional investors and hedge funds have recently modified their holdings of K. Washington Trust Bank grew its position in Kellogg by 0.8% during the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after buying an additional 15 shares during the period. Exane Derivatives grew its position in Kellogg by 24.2% during the second quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after buying an additional 448 shares during the period. CWM LLC grew its position in Kellogg by 5.3% during the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after buying an additional 117 shares during the period. Alpha Windward LLC grew its position in Kellogg by 0.4% during the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after buying an additional 11 shares during the period. Finally, Round Table Services LLC acquired a new position in Kellogg during the second quarter worth about $200,000. Institutional investors own 86.61% of the company’s stock.
A number of equities research analysts have recently commented on K shares. Morgan Stanley reduced their target price on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating for the company in a report on Friday, October 13th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $78.00 target price on shares of Kellogg in a report on Wednesday, October 25th. Credit Suisse Group reduced their target price on shares of Kellogg from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, October 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $78.00 target price on shares of Kellogg in a report on Wednesday, September 6th. Finally, Bank of America Corporation reiterated an “underperform” rating and set a $66.00 price target (down from $72.00) on shares of Kellogg in a research note on Monday, October 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $71.00.
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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