Kellogg W. K. Foundation Trust Sells 100,000 Shares of Kellogg (NYSE:K) Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $69.33, for a total transaction of $6,933,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Friday, December 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $68.28, for a total transaction of $6,828,000.00.
  • On Tuesday, December 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $66.71, for a total transaction of $6,671,000.00.
  • On Wednesday, November 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $65.19, for a total transaction of $6,519,000.00.
  • 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 transaction of $6,339,000.00.
  • On Monday, October 21st, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $62.56, for a total transaction of $6,256,000.00.

Shares of NYSE:K traded up $0.13 during midday trading on Friday, hitting $69.27. The stock had a trading volume of 1,418,486 shares, compared to its average volume of 1,685,984. The company’s 50-day moving average price is $66.96 and its 200-day moving average price is $62.64. The company has a market capitalization of $23.50 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 2.45. Kellogg has a fifty-two week low of $51.34 and a fifty-two week high of $70.00.

Kellogg (NYSE:K) last issued its earnings results on Tuesday, October 29th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.91 by $0.12. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 EPS. Research analysts expect that Kellogg will post 3.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, November 29th. Kellogg’s payout ratio is presently 52.66%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. grew its holdings in Kellogg by 3.2% during the 3rd quarter. Moors & Cabot Inc. now owns 6,501 shares of the company’s stock worth $418,000 after acquiring an additional 200 shares during the last quarter. Financial Architects Inc grew its holdings in Kellogg by 40.0% during 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. Capital Investment Advisory Services LLC grew its holdings in Kellogg by 16.6% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,418 shares of the company’s stock worth $91,000 after acquiring an additional 202 shares during the last quarter. Coastal Investment Advisors Inc. grew its holdings in Kellogg by 46.4% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 824 shares of the company’s stock worth $53,000 after acquiring an additional 261 shares during the last quarter. Finally, First National Bank of Omaha grew its holdings in Kellogg by 7.2% during the 3rd quarter. First National Bank of Omaha now owns 4,088 shares of the company’s stock worth $263,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.

Several brokerages have weighed in on K. Evercore ISI began coverage on shares of Kellogg in a research note on Thursday, October 24th. They issued an “in-line” rating and a $67.00 price objective for the company. Edward Jones upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets upgraded shares of Kellogg from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $79.00 in a research note on Thursday. Credit Suisse Group upgraded shares of Kellogg from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $78.00 in a research note on Tuesday. Finally, Bank of America upgraded shares of Kellogg from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $75.00 in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.31.

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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