American National Bank purchased a new position in shares of Kellogg (NYSE:K) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,455 shares of the company’s stock, valued at approximately $83,000.
Several other hedge funds have also recently bought and sold shares of K. Acima Private Wealth LLC bought a new position in Kellogg in the 4th quarter worth about $25,000. Bruderman Asset Management LLC boosted its stake in Kellogg by 275.0% in the 4th quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 319 shares during the period. Murphy Pohlad Asset Management LLC bought a new position in Kellogg in the 4th quarter worth about $28,000. Oregon Public Employees Retirement Fund boosted its stake in Kellogg by 5,672.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock worth $28,000 after purchasing an additional 1,541,399 shares during the period. Finally, ERTS Wealth Advisors LLC bought a new position in Kellogg in the 4th quarter worth about $34,000. Institutional investors own 86.73% of the company’s stock.
Several research analysts have commented on K shares. ValuEngine downgraded Kellogg from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Royal Bank of Canada restated a “hold” rating and issued a $67.00 target price on shares of Kellogg in a research note on Wednesday, December 19th. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Credit Suisse Group set a $54.00 target price on Kellogg and gave the stock a “hold” rating in a research note on Saturday, February 9th. Finally, JPMorgan Chase & Co. cut their target price on Kellogg to $56.00 and set a “neutral” rating for the company in a research note on Friday, February 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.04.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the firm posted $0.96 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, research analysts expect that Kellogg will post 3.93 earnings per share for the current fiscal year.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $54.76, for a total transaction of $5,476,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 600,000 shares of company stock worth $33,655,000. Insiders own 0.09% of the company’s stock.
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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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