Paradigm Financial Partners LLC Purchases New Position in Kellogg (NYSE:K)

Paradigm Financial Partners LLC purchased a new stake in Kellogg (NYSE:K – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,246 shares of the company’s stock, valued at approximately $349,000.

Other large investors have also recently made changes to their positions in the company. HS Management Partners LLC bought a new position in shares of Kellogg during the 3rd quarter worth approximately $117,268,000. Nordea Investment Management AB grew its stake in shares of Kellogg by 66.2% in the fourth quarter. Nordea Investment Management AB now owns 3,187,874 shares of the company’s stock valued at $203,833,000 after buying an additional 1,269,325 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Kellogg in the fourth quarter valued at $74,159,000. BlackRock Inc. grew its stake in shares of Kellogg by 2.6% in the third quarter. BlackRock Inc. now owns 25,209,977 shares of the company’s stock valued at $1,611,421,000 after buying an additional 631,466 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Kellogg by 131.1% in the fourth quarter. Brown Advisory Inc. now owns 1,035,464 shares of the company’s stock valued at $66,705,000 after buying an additional 587,322 shares in the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Kellogg from a “buy” rating to a “hold” rating and decreased their target price for the company from $74.00 to $73.00 in a research note on Monday, April 25th. Credit Suisse Group raised their price target on Kellogg from $62.00 to $69.00 in a report on Monday, May 9th. Morgan Stanley cut their price target on Kellogg from $67.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday, April 13th. JPMorgan Chase & Co. downgraded Kellogg from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $64.00 to $57.00 in a report on Friday, February 11th. Finally, UBS Group began coverage on Kellogg in a report on Wednesday, March 30th. They set a “buy” rating and a $73.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Kellogg currently has an average rating of “Hold” and an average target price of $68.80.

K stock opened at $73.01 on Friday. The company has a market cap of $24.67 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 4.66 and a beta of 0.48. The business has a 50-day simple moving average of $66.23 and a 200 day simple moving average of $64.76. Kellogg has a 52 week low of $59.54 and a 52 week high of $75.56. The company has a quick ratio of 0.39, a current ratio of 0.65 and a debt-to-equity ratio of 1.39.

Kellogg (NYSE:K – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.59 billion. Kellogg had a return on equity of 34.82% and a net margin of 10.81%. Kellogg’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, analysts anticipate that Kellogg will post 4.09 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, May 31st. Kellogg’s dividend payout ratio (DPR) is presently 51.67%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $74.06, for a total value of $10,824,091.18. Following the transaction, the insider now owns 57,754,909 shares in the company, valued at $4,277,328,560.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amit Banati sold 11,054 shares of Kellogg stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $66.53, for a total value of $735,422.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 914,942 shares of company stock valued at $60,805,193. 1.40% of the stock is owned by insiders.

Kellogg Profile (Get Rating)

Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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