Huntington National Bank lessened its holdings in shares of Kellogg (NYSE:K) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,757 shares of the company’s stock after selling 200 shares during the quarter. Huntington National Bank’s holdings in Kellogg were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Kellogg by 45.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,137,318 shares of the company’s stock valued at $207,252,000 after purchasing an additional 976,584 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Kellogg by 157.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,561,121 shares of the company’s stock valued at $100,833,000 after purchasing an additional 955,905 shares during the last quarter. BlackRock Inc. grew its position in shares of Kellogg by 4.2% in the third quarter. BlackRock Inc. now owns 23,257,472 shares of the company’s stock valued at $1,502,200,000 after purchasing an additional 931,569 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Kellogg by 141.8% in the third quarter. Acadian Asset Management LLC now owns 762,351 shares of the company’s stock valued at $49,243,000 after purchasing an additional 447,080 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Kellogg by 211.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 390,919 shares of the company’s stock valued at $24,886,000 after purchasing an additional 265,430 shares during the last quarter. 79.81% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on K shares. Credit Suisse Group downgraded Kellogg from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $77.00 to $68.00 in a research report on Monday, November 23rd. BidaskClub cut Kellogg from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Jefferies Financial Group cut their price target on Kellogg from $69.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Piper Sandler cut Kellogg from an “overweight” rating to a “neutral” rating and cut their price target for the company from $76.00 to $66.00 in a research note on Tuesday, January 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.21.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $63.32, for a total value of $5,276,645.56. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $66.53, for a total value of $5,544,211.02. The disclosure for this sale can be found here. Insiders sold a total of 500,001 shares of company stock valued at $31,438,400 over the last quarter. 1.10% of the stock is owned by corporate insiders.

NYSE K opened at $59.14 on Thursday. The business has a fifty day moving average price of $61.91 and a two-hundred day moving average price of $65.46. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.58. Kellogg has a fifty-two week low of $52.66 and a fifty-two week high of $72.88. The stock has a market capitalization of $20.33 billion, a PE ratio of 17.09, a PEG ratio of 4.25 and a beta of 0.59.

Kellogg (NYSE:K) last released its earnings results on Thursday, October 29th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Kellogg had a return on equity of 41.23% and a net margin of 8.80%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Kellogg will post 4.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Monday, November 30th. Kellogg’s payout ratio is presently 57.87%.

Kellogg Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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