Eos Focused Equity Management L.P. Has $1.97 Million Holdings in Kellogg (K)

Eos Focused Equity Management L.P. lowered its stake in shares of Kellogg (NYSE:K) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,164 shares of the company’s stock after selling 2,239 shares during the period. Kellogg accounts for about 2.4% of Eos Focused Equity Management L.P.’s investment portfolio, making the stock its 22nd biggest holding. Eos Focused Equity Management L.P.’s holdings in Kellogg were worth $1,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in shares of Kellogg by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 377,931 shares of the company’s stock valued at $24,570,000 after purchasing an additional 15,316 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Kellogg by 113.2% during the 1st quarter. Allianz Asset Management GmbH now owns 6,812 shares of the company’s stock valued at $443,000 after purchasing an additional 58,391 shares during the last quarter. DnB Asset Management AS purchased a new stake in shares of Kellogg during the 2nd quarter valued at $2,895,000. IFM Investors Pty Ltd lifted its holdings in shares of Kellogg by 45.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 11,858 shares of the company’s stock valued at $829,000 after purchasing an additional 3,706 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in shares of Kellogg by 9.1% during the 2nd quarter. Capital Investment Advisors LLC now owns 11,189 shares of the company’s stock valued at $782,000 after purchasing an additional 931 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

K has been the subject of several analyst reports. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Credit Suisse Group upped their target price on Kellogg from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Wells Fargo & Co reissued a “hold” rating and issued a $67.00 target price (up from $62.00) on shares of Kellogg in a research report on Sunday, August 5th. Buckingham Research upped their target price on Kellogg from $76.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Finally, Piper Jaffray Companies set a $79.00 target price on Kellogg and gave the company a “buy” rating in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Kellogg presently has an average rating of “Hold” and a consensus target price of $71.59.

NYSE K opened at $65.18 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.52 and a current ratio of 0.84. Kellogg has a 1 year low of $56.40 and a 1 year high of $74.98. The firm has a market capitalization of $22.34 billion, a P/E ratio of 14.80, a PEG ratio of 2.12 and a beta of 0.50.

Kellogg (NYSE:K) last released its earnings results on Wednesday, October 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the company earned $1.03 earnings per share. Kellogg’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Kellogg will post 4.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, November 30th. Kellogg’s dividend payout ratio is currently 55.45%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of the stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $69.72, for a total transaction of $14,292,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

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Kellogg Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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