Insider Selling: Kellogg W. K. Foundation Trust Sells 50,000 Shares of Kellogg Company Stock (K)
Kellogg Company (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 50,000 shares of Kellogg Company stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $69.34, for a total transaction of $3,467,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
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 research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $62.45.
Kellogg Company (NYSE:K) traded down 0.89% during mid-day trading on Thursday, hitting $68.775. 919,960 shares of the company’s stock traded hands. Kellogg Company has a 1-year low of $55.69 and a 1-year high of $69.40. The stock’s 50-day moving average is $67.19 and its 200-day moving average is $62.62. The company has a market cap of $24.693 billion and a P/E ratio of 13.31. Kellogg Company also saw a large decrease in short interest during 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. Currently, 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 2,496,498 shares, the short-interest ratio is currently 1.7 days.
Kellogg Company (NYSE:K) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.99 earnings per share. The company’s revenue for the quarter 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 announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, May 29th.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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