Wedbush Securities Inc. lessened its position in Kellogg (NYSE:K) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,174 shares of the company’s stock after selling 296 shares during the period. Wedbush Securities Inc.’s holdings in Kellogg were worth $652,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Beutel Goodman & Co Ltd. lifted its position in Kellogg by 13.5% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,894,578 shares of the company’s stock worth $167,224,000 after buying an additional 462,398 shares in the last quarter. Geode Capital Management LLC lifted its position in Kellogg by 11.6% during the 4th quarter. Geode Capital Management LLC now owns 3,517,033 shares of the company’s stock worth $200,178,000 after buying an additional 364,719 shares in the last quarter. Northern Trust Corp lifted its position in Kellogg by 1.3% during the 1st quarter. Northern Trust Corp now owns 3,460,612 shares of the company’s stock worth $198,570,000 after buying an additional 45,977 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in Kellogg by 37.1% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock worth $163,488,000 after buying an additional 771,375 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Kellogg by 19.8% during the 1st quarter. California Public Employees Retirement System now owns 1,699,173 shares of the company’s stock worth $97,499,000 after buying an additional 280,644 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.
NYSE:K traded up $0.22 on Friday, hitting $63.74. 37,427 shares of the stock were exchanged, compared to its average volume of 3,209,826. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 3.58 and a beta of 0.61. Kellogg has a 52 week low of $51.34 and a 52 week high of $74.98. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.46 and a current ratio of 0.70. The company’s 50-day moving average price is $57.93 and its 200 day moving average price is $56.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a $0.57 dividend. The ex-dividend date is Friday, August 30th. This is a boost from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.58%. Kellogg’s dividend payout ratio is 51.73%.
K has been the topic of several research reports. Zacks Investment Research downgraded shares of Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price target on the stock. in a research report on Friday, August 2nd. ValuEngine upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. GMP Securities reiterated a “buy” rating on shares of Kellogg in a research report on Thursday, July 11th. Buckingham Research upped their price target on shares of Kellogg from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, Canaccord Genuity reissued an “average” rating on shares of Kellogg in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Kellogg presently has a consensus rating of “Hold” and a consensus target price of $63.47.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $54.84, for a total value of $5,484,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 600,000 shares of company stock valued at $33,914,000. 0.09% of the stock is currently owned by company insiders.
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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