Thrivent Financial for Lutherans lifted its stake in shares of Kellogg (NYSE:K) by 186.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,668 shares of the company’s stock after acquiring an additional 19,945 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kellogg were worth $1,748,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Kellogg by 73.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,121,246 shares of the company’s stock valued at $78,509,000 after purchasing an additional 474,842 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Kellogg by 7.3% during the third quarter. Brown Advisory Inc. now owns 175,105 shares of the company’s stock valued at $12,261,000 after purchasing an additional 11,986 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Kellogg by 77.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,300 shares of the company’s stock worth $1,421,000 after acquiring an additional 8,850 shares during the period. Standard Life Aberdeen plc grew its stake in Kellogg by 6.3% during the third quarter. Standard Life Aberdeen plc now owns 110,800 shares of the company’s stock valued at $7,758,000 after acquiring an additional 6,519 shares in the last quarter. Finally, United Services Automobile Association grew its stake in Kellogg by 1.5% during the third quarter. United Services Automobile Association now owns 301,038 shares of the company’s stock valued at $21,079,000 after acquiring an additional 4,443 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $58.36, for a total transaction of $5,836,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 600,000 shares of company stock worth $33,762,000 over the last three months. 0.09% of the stock is currently owned by insiders.
NYSE:K opened at $56.02 on Tuesday. The stock has a market capitalization of $19.73 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 3.44 and a beta of 0.54. The company has a current ratio of 0.70, a quick ratio of 0.40 and a debt-to-equity ratio of 2.60. Kellogg has a 1-year low of $53.14 and a 1-year high of $74.98.
Kellogg (NYSE:K) last released its earnings results on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. On average, analysts forecast that Kellogg will post 3.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Monday, March 4th. Kellogg’s dividend payout ratio is presently 51.73%.
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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