Kellogg Company (K) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Kellogg Company (NYSE:K) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 894,037 shares of the company’s stock after acquiring an additional 89,847 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of Kellogg worth $55,761,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sigma Planning Corp boosted its stake in shares of Kellogg by 16.9% during the 3rd quarter. Sigma Planning Corp now owns 6,281 shares of the company’s stock worth $392,000 after acquiring an additional 907 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Kellogg by 11.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,901 shares of the company’s stock worth $555,000 after acquiring an additional 926 shares during the period. Toronto Dominion Bank boosted its stake in shares of Kellogg by 10.9% during the 3rd quarter. Toronto Dominion Bank now owns 142,516 shares of the company’s stock worth $8,893,000 after acquiring an additional 14,013 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Kellogg by 1.7% during the 3rd quarter. New York State Common Retirement Fund now owns 538,200 shares of the company’s stock worth $33,568,000 after acquiring an additional 9,000 shares during the period. Finally, Private Wealth Partners LLC bought a new position in shares of Kellogg during the 3rd quarter worth approximately $1,266,000. Institutional investors own 86.85% of the company’s stock.
In other Kellogg news, CEO Steven A. Cahillane purchased 15,930 shares of the stock in a transaction dated Thursday, November 2nd. The stock was bought at an average price of $62.70 per share, with a total value of $998,811.00. Following the acquisition, the chief executive officer now owns 15,930 shares of the company’s stock, valued at $998,811. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John A. Bryant sold 190,000 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $63.01, for a total value of $11,971,900.00. The disclosure for this sale can be found here. Insiders sold a total of 223,438 shares of company stock valued at $14,077,678 over the last ninety days. Insiders own 1.30% of the company’s stock.
K has been the subject of several research analyst reports. Zacks Investment Research downgraded Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. UBS AG dropped their price target on Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the stock a “buy” rating in a report on Monday, August 7th. BMO Capital Markets reissued a “hold” rating and set a $78.00 price target on shares of Kellogg in a report on Wednesday, September 6th. Finally, Bank of America Corporation reissued an “underperform” rating and set a $66.00 price target (down from $72.00) on shares of Kellogg in a report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $71.00.
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Kellogg Company (K) opened at $65.36 on Monday. The firm has a market capitalization of $22,580.09, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 2.64 and a beta of 0.49. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. Kellogg Company has a fifty-two week low of $58.76 and a fifty-two week high of $76.69.
Kellogg (NYSE:K) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 EPS. equities research analysts anticipate that Kellogg Company will post 4.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 annualized dividend and a yield of 3.30%. Kellogg’s dividend payout ratio is presently 96.43%.
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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