Washington Trust Bank boosted its position in shares of Kellogg Company (NYSE:K) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,780 shares of the company’s stock after buying an additional 15 shares during the period. Washington Trust Bank’s holdings in Kellogg were worth $124,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Alpha Windward LLC raised its position in shares of Kellogg by 0.4% in 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 last quarter. Altfest L J & Co. Inc. raised its position in shares of Kellogg by 0.5% in the first quarter. Altfest L J & Co. Inc. now owns 2,891 shares of the company’s stock worth $210,000 after buying an additional 14 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Kellogg by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,813 shares of the company’s stock worth $495,000 after buying an additional 21 shares during the last quarter. Whittier Trust Co. raised its position in shares of Kellogg by 1.0% in the first quarter. Whittier Trust Co. now owns 3,085 shares of the company’s stock worth $224,000 after buying an additional 31 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares during the last quarter. Institutional investors own 83.60% of the company’s stock.
Shares of Kellogg Company (K) traded up 0.40% during mid-day trading on Tuesday, hitting $67.10. The company had a trading volume of 93,713 shares. Kellogg Company has a 12 month low of $65.32 and a 12 month high of $84.28. The firm has a 50-day moving average of $69.43 and a 200-day moving average of $71.89. The company has a market cap of $23.50 billion, a PE ratio of 30.36 and a beta of 0.50.
Kellogg (NYSE:K) last released its earnings results on Thursday, May 4th. The company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Kellogg had a return on equity of 67.99% and a net margin of 6.07%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts expect that Kellogg Company will post $3.92 EPS for the current year.
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A number of research analysts have weighed in on the company. BidaskClub lowered Kellogg from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Susquehanna Bancshares Inc set a $78.00 price target on Kellogg and gave the stock a “hold” rating in a report on Wednesday, June 14th. Royal Bank Of Canada reduced their price target on Kellogg from $84.00 to $81.00 and set a “sector perform” rating on the stock in a report on Friday, May 5th. UBS AG reduced their price target on Kellogg from $81.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Finally, TheStreet upgraded Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $77.82.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John T. Dillon sold 4,900 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The disclosure for this sale can be found here. Insiders have sold 99,900 shares of company stock worth $7,178,363 over the last quarter. 1.30% of the stock is currently owned by company insiders.
Kellogg Company Profile
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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