Kellogg Company major shareholder Sells $6,503,709 in Stock (K)
Kellogg Company (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 94,025 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $69.17, for a total transaction of $6,503,709.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Kellogg Company (NYSE:K) traded up 0.20% during mid-day trading on Monday, hitting $69.12. 1,778,074 shares of the company’s stock traded hands. Kellogg Company has a 52 week low of $55.69 and a 52 week high of $69.37. The stock’s 50-day moving average is $66.97 and its 200-day moving average is $62.52. The company has a market cap of $24.817 billion and a price-to-earnings ratio of 13.23. Kellogg Company also saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 4,317,855 shares, a decrease of 38.6% from the April 30th total of 7,037,762 shares. Based on an average daily volume of 2,496,498 shares, the short-interest ratio is presently 1.7 days. Approximately 1.2% of the shares of the company are short sold.
Kellogg Company (NYSE:K) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.98 by $0.03. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts expect that Kellogg Company will post $4.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, May 29th.
A number of research firms have recently commented on K. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Kellogg Company in a research note on Monday. They now have a $66.00 price target on the stock, up previously from $64.00. Separately, analysts at Credit Suisse reiterated an “underperform” rating on shares of Kellogg Company in a research note on Friday, May 2nd. They now have a $60.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Kellogg Company in a research note on Friday, May 2nd. They now have a $69.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $62.45.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.