Kellogg Company major shareholder Kellogg W. K. Foundation Trust Sells 148,900 Shares (K)
Kellogg Company (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 148,900 shares of Kellogg Company stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $64.24, for a total transaction of $9,565,336.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
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 issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.90.
Shares of Kellogg Company (NYSE:K) opened at 64.82 on Thursday. Kellogg Company has a one year low of $55.69 and a one year high of $69.50. The stock has a 50-day moving average of $64.60 and a 200-day moving average of $64.39. The company has a market cap of $23.343 billion and a P/E ratio of 12.70.
Kellogg Company (NYSE:K) last posted its quarterly earnings results 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 declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors 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 3.02%. The ex-dividend date of this dividend is Thursday, August 28th. This is an increase 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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