Insider Selling: Kellogg Company major shareholder Sells 1,300 Shares of Stock (K)
Kellogg Company (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $69.50, for a total transaction of $90,350.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Kellogg Company (NYSE:K) traded down 0.16% on Friday, hitting $68.73. 889,419 shares of the company’s stock traded hands. Kellogg Company has a 1-year low of $55.69 and a 1-year high of $69.50. The stock has a 50-day moving average of $67.28 and a 200-day moving average of $62.6. The company has a market cap of $24.677 billion and a price-to-earnings ratio of 13.21. 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 trading volume, of 2,496,498 shares, the short-interest ratio is currently 1.7 days. Currently, 1.2% of the company’s shares are sold short.
Kellogg Company (NYSE:K) last issued its quarterly earnings data 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 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 2.67%. The ex-dividend date of this dividend is Thursday, May 29th.
Several analysts have recently commented on the stock. 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 issued a hold rating and four have assigned a buy rating to the company. Kellogg Company has an average rating of “Hold” and a consensus target price of $62.45.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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