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 sold 109,400 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $64.00, for a total transaction of $7,001,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on K. 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 equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $62.90.
Kellogg Company (NYSE:K) traded up 0.44% during mid-day trading on Friday, hitting $64.28. 2,040,009 shares of the company’s stock traded hands. Kellogg Company has a 52 week low of $55.69 and a 52 week high of $69.50. The stock has a 50-day moving average of $64.69 and a 200-day moving average of $64.22. The company has a market cap of $23.149 billion and a price-to-earnings ratio of 12.61.
Kellogg Company (NYSE:K) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.02 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.00 earnings per share. Kellogg Company’s revenue was down .8% compared to the same quarter last year. Analysts expect that Kellogg Company will post $3.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, August 28th. This is a boost from Kellogg Company’s previous quarterly dividend of $0.46.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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