Insider Selling: Kellogg Company major shareholder Sells 148,900 Shares of Stock (K)
Kellogg Company (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 148,900 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $64.24, for a total value of $9,565,336.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.
K has been the subject of a number of recent research reports. 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Kellogg Company has an average rating of “Hold” and a consensus price target of $62.90.
Shares of Kellogg Company (NYSE:K) traded up 0.34% on Tuesday, hitting $64.52. The stock had a trading volume of 490,956 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 $64.67 and its 200-day moving average is $64.30. The company has a market cap of $23.235 billion and a P/E ratio of 12.66.
Kellogg Company (NYSE:K) last announced its earnings results on Thursday, July 31st. The company reported $1.02 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that Kellogg Company will post $3.91 earnings per share 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 3.05%. The ex-dividend date 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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