Insider Selling: Kellogg W. K. Foundation Trust Unloads 109,400 Shares of Kellogg Company Stock (K)
Kellogg Company (NYSE:K) major shareholder Kellogg W. K. Foundation Trust unloaded 109,400 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The stock was sold at an average price of $64.00, for a total value of $7,001,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Kellogg Company (NYSE:K) traded up 0.48% on Friday, hitting $64.31. The stock had a trading volume of 1,414,650 shares. Kellogg Company has a 52 week low of $55.69 and a 52 week high of $69.50. The stock’s 50-day moving average is $64.70 and its 200-day moving average is $64.19. The company has a market cap of $23.159 billion and a P/E ratio of 12.61.
Kellogg Company (NYSE:K) last released its earnings data on Thursday, July 31st. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.03 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Analysts expect that Kellogg Company will post $3.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, August 28th. This is a boost from Kellogg Company’s previous quarterly dividend of $0.46.
A number of analysts have recently weighed in on K shares. Analysts at Nomura cut their price target on shares of Kellogg Company from $71.00 to $69.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Kellogg Company in a research note on Friday, August 1st. They now have a $63.00 price target on the stock. Finally, analysts at Goldman Sachs downgraded shares of Kellogg Company from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 15th. They now have a $59.00 price target on the stock, down previously from $64.00. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Kellogg Company has an average rating of “Hold” and an average price target of $62.90.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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