Bridge Creek Capital Management LLC Trims Position in Kellogg (NYSE:K)
Bridge Creek Capital Management LLC lessened its stake in shares of Kellogg (NYSE:K) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 54,863 shares of the company’s stock after selling 1,825 shares during the quarter. Kellogg comprises 1.7% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 28th largest holding. Bridge Creek Capital Management LLC’s holdings in Kellogg were worth $3,794,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its holdings in Kellogg by 5.9% in the 3rd quarter. State Street Corp now owns 12,963,660 shares of the company’s stock valued at $834,212,000 after buying an additional 725,882 shares during the period. Beutel Goodman & Co Ltd. raised its holdings in Kellogg by 1.3% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,943,373 shares of the company’s stock valued at $161,307,000 after buying an additional 48,795 shares during the period. Invesco Ltd. raised its holdings in Kellogg by 9.5% in the 2nd quarter. Invesco Ltd. now owns 3,015,800 shares of the company’s stock valued at $161,557,000 after buying an additional 262,198 shares during the period. California Public Employees Retirement System raised its holdings in Kellogg by 3.0% in the 3rd quarter. California Public Employees Retirement System now owns 2,049,665 shares of the company’s stock valued at $131,896,000 after buying an additional 59,742 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Kellogg by 31.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,978,156 shares of the company’s stock valued at $105,970,000 after buying an additional 472,686 shares during the period. Institutional investors and hedge funds own 86.96% of the company’s stock.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $69.33, for a total transaction of $6,933,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Alistair D. Hirst sold 2,500 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $63.88, for a total value of $159,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 625,291 shares of company stock valued at $41,158,106. 0.09% of the stock is currently owned by corporate insiders.
NYSE K traded up $0.14 during trading on Tuesday, hitting $69.85. The stock had a trading volume of 729,391 shares, compared to its average volume of 1,475,011. The company has a market capitalization of $23.63 billion, a PE ratio of 16.13, a PEG ratio of 2.87 and a beta of 0.53. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 2.45. The firm has a 50 day moving average price of $67.33 and a 200 day moving average price of $62.92. Kellogg has a twelve month low of $51.34 and a twelve month high of $70.00.
Kellogg (NYSE:K) last released its earnings results on Tuesday, October 29th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.12. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.35 billion. Kellogg had a return on equity of 42.47% and a net margin of 5.35%. Kellogg’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. On average, sell-side analysts anticipate that Kellogg will post 3.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, November 29th. Kellogg’s dividend payout ratio is currently 52.66%.
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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