Kellogg (NYSE:K) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Kellogg (NYSE:K) by 0.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,139,556 shares of the company’s stock after selling 14,200 shares during the quarter. Vanguard Group Inc. owned 5.91% of Kellogg worth $1,078,876,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC grew its position in Kellogg by 12.7% in the second quarter. Renaissance Technologies LLC now owns 5,523,983 shares of the company’s stock valued at $295,920,000 after acquiring an additional 623,700 shares in the last quarter. Northern Trust Corp grew its position in Kellogg by 1.3% in the first quarter. Northern Trust Corp now owns 3,460,612 shares of the company’s stock valued at $198,570,000 after acquiring an additional 45,977 shares in the last quarter. Ceredex Value Advisors LLC grew its position in Kellogg by 37.1% in the first quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock valued at $163,488,000 after acquiring an additional 771,375 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Kellogg by 3.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,949,626 shares of the company’s stock valued at $104,442,000 after acquiring an additional 66,029 shares in the last quarter. Finally, Swiss National Bank grew its position in Kellogg by 2.7% in the first quarter. Swiss National Bank now owns 1,466,589 shares of the company’s stock valued at $84,153,000 after acquiring an additional 39,200 shares in the last quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $56.28, for a total transaction of $5,628,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 600,000 shares of company stock worth $36,304,000 over the last 90 days. 0.09% of the stock is currently owned by company insiders.



Several analysts have issued reports on K shares. Buckingham Research increased their price objective on shares of Kellogg from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. ValuEngine raised shares of Kellogg from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Guggenheim increased their price objective on shares of Kellogg from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Consumer Edge downgraded shares of Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 price objective for the company. in a research report on Monday, June 24th. Finally, Credit Suisse Group set a $60.00 price objective on shares of Kellogg and gave the company a “hold” rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $64.28.

Shares of Kellogg stock traded down $0.63 on Monday, hitting $63.10. 48,612 shares of the company’s stock traded hands, compared to its average volume of 2,054,997. The stock has a market cap of $21.70 billion, a P/E ratio of 14.54, a PEG ratio of 3.66 and a beta of 0.54. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 2.67. The firm’s 50-day moving average is $63.14 and its 200 day moving average is $58.01. Kellogg has a 52-week low of $51.34 and a 52-week high of $73.43.

Kellogg (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.08. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. Equities research analysts forecast that Kellogg will post 3.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Friday, August 30th. This is a boost from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.61%. Kellogg’s dividend payout ratio (DPR) is 52.66%.

Kellogg Company Profile

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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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