Symphony Financial Ltd. Co. Makes New $239,000 Investment in Kellogg (NYSE:K)
Symphony Financial Ltd. Co. bought a new position in shares of Kellogg (NYSE:K) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,895 shares of the company’s stock, valued at approximately $239,000.
Several other hedge funds and other institutional investors also recently modified their holdings of K. Princeton Global Asset Management LLC boosted its position in shares of Kellogg by 100.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 440 shares of the company’s stock worth $28,000 after buying an additional 220 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of Kellogg in the 3rd quarter worth about $32,000. Prospera Financial Services Inc purchased a new stake in shares of Kellogg in the 3rd quarter worth about $34,000. Asset Dedication LLC boosted its position in shares of Kellogg by 274.0% in the 3rd quarter. Asset Dedication LLC now owns 546 shares of the company’s stock worth $35,000 after buying an additional 400 shares in the last quarter. Finally, Chiron Capital Management LLC purchased a new stake in shares of Kellogg in the 3rd quarter worth about $45,000. Institutional investors own 79.81% of the company’s stock.
K has been the topic of several recent research reports. BidaskClub lowered shares of Kellogg from a “hold” rating to a “sell” rating in a research report on Saturday, January 9th. Jefferies Financial Group decreased their price objective on shares of Kellogg from $69.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday. Piper Sandler lowered shares of Kellogg from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $76.00 to $66.00 in a research report on Tuesday, January 5th. Finally, Credit Suisse Group downgraded shares of Kellogg from an “outperform” rating to a “neutral” rating and cut their target price for the company from $77.00 to $68.00 in a research note on Monday, November 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $69.21.
NYSE K opened at $59.14 on Thursday. Kellogg has a 12 month low of $52.66 and a 12 month high of $72.88. The company has a 50-day moving average of $61.91 and a 200-day moving average 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. The company has a market cap of $20.33 billion, a P/E ratio of 17.09, a P/E/G ratio of 4.25 and a beta of 0.59.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. Kellogg had a net margin of 8.80% and a return on equity of 41.23%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellogg will post 4.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Monday, November 30th. Kellogg’s dividend payout ratio (DPR) is presently 57.87%.
Kellogg Company 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.
Recommended Story: How to trade on quiet period expirations
Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg (NYSE:K).
Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.