Insider Selling: Kellogg (NYSE:K) Major Shareholder Sells 100,000 Shares of Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $65.19, for a total value of $6,519,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellogg W. K. Foundation Trust also recently made the following trade(s):

  • On Monday, November 11th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $63.39, for a total value of $6,339,000.00.
  • On Monday, October 21st, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $62.56, for a total value of $6,256,000.00.
  • On Thursday, October 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $62.31, for a total value of $6,231,000.00.
  • On Friday, September 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The shares were sold at an average price of $63.96, for a total value of $6,396,000.00.
  • On Tuesday, September 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00.

Shares of NYSE K traded up $0.06 during mid-day trading on Wednesday, reaching $65.38. 1,462,917 shares of the company’s stock were exchanged, compared to its average volume of 2,384,045. The firm has a market capitalization of $22.06 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 3.69 and a beta of 0.52. Kellogg has a 52 week low of $51.34 and a 52 week high of $65.59. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.80 and a quick ratio of 0.52. The firm has a 50-day moving average price of $62.96 and a two-hundred day moving average price of $59.90.

Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.12. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kellogg will post 3.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.49%. The ex-dividend date is Friday, November 29th. Kellogg’s dividend payout ratio is 52.66%.

A number of research firms recently commented on K. Evercore ISI initiated coverage on Kellogg in a research report on Thursday, October 24th. They issued an “in-line” rating and a $67.00 price target for the company. ValuEngine raised shares of Kellogg from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group set a $60.00 target price on shares of Kellogg and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Barclays downgraded shares of Kellogg to an “equal weight” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada assumed coverage on shares of Kellogg in a research report on Thursday, October 17th. They set a “sector perform” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $64.38.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in K. Financial Architects Inc increased its holdings in Kellogg by 40.0% in the 3rd quarter. Financial Architects Inc now owns 700 shares of the company’s stock worth $45,000 after acquiring an additional 200 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in Kellogg by 36.6% during the third quarter. Cetera Advisor Networks LLC now owns 8,942 shares of the company’s stock valued at $575,000 after purchasing an additional 2,397 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in Kellogg by 6.3% during the third quarter. Miracle Mile Advisors LLC now owns 71,000 shares of the company’s stock valued at $4,569,000 after purchasing an additional 4,191 shares during the last quarter. BancorpSouth Bank boosted its position in Kellogg by 2.7% during the third quarter. BancorpSouth Bank now owns 39,984 shares of the company’s stock worth $2,573,000 after purchasing an additional 1,057 shares during the period. Finally, Smith Chas P & Associates PA Cpas bought a new position in Kellogg during the third quarter worth about $222,000. Hedge funds and other institutional investors own 86.85% of the company’s stock.

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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Insider Buying and Selling by Quarter for Kellogg (NYSE:K)

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