Gulf International Bank UK Ltd lifted its holdings in Kellogg (NYSE:K) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,429 shares of the company’s stock after buying an additional 2,800 shares during the period. Gulf International Bank UK Ltd’s holdings in Kellogg were worth $5,771,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Kellogg by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 377,931 shares of the company’s stock valued at $24,570,000 after purchasing an additional 15,316 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Kellogg by 113.2% in the 1st quarter. Allianz Asset Management GmbH now owns 6,812 shares of the company’s stock valued at $443,000 after purchasing an additional 58,391 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Kellogg by 45.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 11,858 shares of the company’s stock valued at $829,000 after purchasing an additional 3,706 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Kellogg by 3.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 38,848 shares of the company’s stock valued at $2,714,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Pennsylvania Trust Co grew its position in Kellogg by 10.3% during the 2nd quarter. Pennsylvania Trust Co now owns 10,678 shares of the company’s stock worth $746,000 after acquiring an additional 1,000 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
K has been the topic of a number of research reports. Citigroup reduced their price objective on Kellogg from $87.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Buckingham Research reduced their price objective on Kellogg from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. ValuEngine upgraded Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $79.00 price objective on Kellogg and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Finally, Argus reduced their price objective on Kellogg from $85.00 to $74.00 and set a “buy” rating on the stock in a research report 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 issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $71.59.
Shares of K opened at $65.01 on Friday. The stock has a market cap of $22.30 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 2.12 and a beta of 0.50. Kellogg has a 12 month low of $56.40 and a 12 month high of $74.98. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.52 and a current ratio of 0.84.
Kellogg (NYSE:K) last announced its earnings results on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.43 billion. Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. On average, equities research analysts forecast that Kellogg will post 4.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, November 30th. Kellogg’s payout ratio is presently 55.45%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of Kellogg stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $69.72, for a total transaction of $14,292,600.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.
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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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