Kellogg (NYSE:K) Stake Reduced by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its stake in shares of Kellogg (NYSE:K) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,445 shares of the company’s stock after selling 600 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Kellogg were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of K. 6 Meridian boosted its position in Kellogg by 3.5% during the 4th quarter. 6 Meridian now owns 9,075 shares of the company’s stock worth $628,000 after acquiring an additional 306 shares during the period. Surevest Inc. boosted its position in Kellogg by 41.7% during the 4th quarter. Surevest Inc. now owns 34,004 shares of the company’s stock worth $2,352,000 after acquiring an additional 10,002 shares during the period. Sawyer & Company Inc boosted its position in Kellogg by 190.3% during the 4th quarter. Sawyer & Company Inc now owns 7,956 shares of the company’s stock worth $550,000 after acquiring an additional 5,215 shares during the period. DNB Asset Management AS boosted its position in Kellogg by 28.0% during the 4th quarter. DNB Asset Management AS now owns 46,542 shares of the company’s stock worth $3,219,000 after acquiring an additional 10,168 shares during the period. Finally, OmniStar Financial Group Inc. acquired a new position in Kellogg during the 4th quarter worth $264,000. Hedge funds and other institutional investors own 86.96% of the company’s stock.

A number of research analysts have issued reports on the company. Deutsche Bank assumed coverage on Kellogg in a research report on Wednesday, December 11th. They set a “buy” rating and a $74.00 price target for the company. Evercore ISI assumed coverage on Kellogg in a research report on Thursday, October 24th. They set an “in-line” rating and a $67.00 price target for the company. Edward Jones upgraded Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets upgraded Kellogg from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $79.00 in a research report on Thursday, January 9th. Finally, Buckingham Research boosted their price target on Kellogg from $71.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $67.75.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $62.56, for a total transaction of $6,256,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Alistair D. Hirst sold 2,500 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $63.88, for a total value of $159,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 625,291 shares of company stock valued at $41,158,106. 0.09% of the stock is currently owned by company insiders.

Shares of Kellogg stock opened at $70.00 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 2.45. The firm has a market cap of $23.63 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53. The business has a fifty day simple moving average of $67.45 and a 200-day simple moving average of $63.00. Kellogg has a fifty-two week low of $51.34 and a fifty-two week high of $70.00.

Kellogg (NYSE:K) last announced its quarterly earnings data 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. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.35 billion. Kellogg had a return on equity of 42.47% and a net margin of 5.35%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Analysts anticipate that Kellogg will post 3.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Friday, November 29th. Kellogg’s dividend payout ratio is 52.66%.

About Kellogg

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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