Kellogg (NYSE:K) Major Shareholder Sells $5,285,875.62 in Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $63.43, for a total value of $5,285,875.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock 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, August 20th, Kellogg W. K. Foundation Trust sold 83,332 shares of Kellogg stock. The stock was sold at an average price of $66.38, for a total value of $5,531,578.16.
  • On Tuesday, August 10th, Kellogg W. K. Foundation Trust sold 83,331 shares of Kellogg stock. The stock was sold at an average price of $63.79, for a total value of $5,315,684.49.

Shares of K opened at $63.39 on Tuesday. Kellogg has a 52 week low of $56.61 and a 52 week high of $68.60. The firm has a market cap of $21.61 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 3.52 and a beta of 0.65. The firm’s 50-day simple moving average is $63.81 and its 200 day simple moving average is $63.88. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.48 and a current ratio of 0.76.

Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, August 5th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.11. Kellogg had a net margin of 9.27% and a return on equity of 37.51%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the business earned $1.24 EPS. Kellogg’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that Kellogg will post 4.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were given a dividend of $0.58 per share. The ex-dividend date was Tuesday, August 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.66%. Kellogg’s payout ratio is presently 58.15%.

Several equities research analysts have commented on K shares. Credit Suisse Group cut their price target on shares of Kellogg from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, August 30th. National Bank Financial cut shares of Kellogg to a “sector perform” rating in a research report on Tuesday, June 22nd. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Kellogg in a research report on Thursday, August 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.00.

Large investors have recently made changes to their positions in the business. E Fund Management Co. Ltd. acquired a new position in shares of Kellogg during the 1st quarter worth approximately $28,000. America First Investment Advisors LLC acquired a new position in shares of Kellogg during the 2nd quarter worth approximately $33,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Kellogg during the 1st quarter worth approximately $38,000. Kempen Capital Management N.V. boosted its position in shares of Kellogg by 44.0% during the 2nd quarter. Kempen Capital Management N.V. now owns 727 shares of the company’s stock worth $47,000 after acquiring an additional 222 shares in the last quarter. Finally, Axiom Investment Management LLC acquired a new stake in shares of Kellogg during the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 85.39% of the company’s stock.

About Kellogg

Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).

Further Reading: Green Investing

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

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