Achmea Investment Management B.V. lifted its stake in shares of Kellogg (NYSE:K) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,279 shares of the company’s stock after buying an additional 8,229 shares during the period. Achmea Investment Management B.V.’s holdings in Kellogg were worth $5,128,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Kellogg by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock valued at $372,017,000 after buying an additional 1,076,748 shares in the last quarter. Beutel Goodman & Co Ltd. increased its holdings in Kellogg by 14.2% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,492,041 shares of the company’s stock valued at $185,626,000 after buying an additional 434,170 shares in the last quarter. Millennium Management LLC increased its holdings in Kellogg by 61.8% in the second quarter. Millennium Management LLC now owns 2,418,179 shares of the company’s stock valued at $168,958,000 after buying an additional 923,365 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Kellogg by 3.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,598,119 shares of the company’s stock valued at $111,661,000 after buying an additional 53,340 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Kellogg by 2.1% in the second quarter. Swiss National Bank now owns 1,469,389 shares of the company’s stock valued at $102,666,000 after buying an additional 29,900 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.
A number of research firms have weighed in on K. Zacks Investment Research raised shares of Kellogg from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine cut shares of Kellogg from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Buckingham Research cut their target price on shares of Kellogg from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Royal Bank of Canada cut their target price on shares of Kellogg to $72.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Finally, Argus cut their target price on shares of Kellogg from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $71.59.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of the business’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $69.72, for a total transaction of $14,292,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.
K stock opened at $65.01 on Friday. The stock has a market cap of $22.34 billion, a PE ratio of 16.09, a P/E/G ratio of 2.12 and a beta of 0.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.84 and a quick ratio of 0.52. Kellogg has a 52 week low of $56.40 and a 52 week high of $74.98.
Kellogg (NYSE:K) last released its earnings results on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. As a group, equities analysts anticipate that Kellogg will post 4.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Friday, November 30th. This represents a $2.24 dividend on an annualized basis and a yield of 3.45%. Kellogg’s payout ratio is presently 55.45%.
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.
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