BB&T Securities LLC boosted its holdings in Kellogg (NYSE:K) by 31.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,249 shares of the company’s stock after acquiring an additional 11,720 shares during the quarter. BB&T Securities LLC’s holdings in Kellogg were worth $2,807,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc raised its position in Kellogg by 3.4% in the third quarter. Vanguard Group Inc now owns 21,245,966 shares of the company’s stock worth $1,487,643,000 after acquiring an additional 696,685 shares in the last quarter. Capital World Investors raised its position in Kellogg by 3.0% in the third quarter. Capital World Investors now owns 9,739,000 shares of the company’s stock worth $681,925,000 after acquiring an additional 280,000 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 worth $372,017,000 after acquiring an additional 1,076,748 shares in the last quarter. Franklin Resources Inc. raised its position in Kellogg by 1.2% in the third quarter. Franklin Resources Inc. now owns 4,380,796 shares of the company’s stock worth $306,745,000 after acquiring an additional 50,416 shares in the last quarter. Finally, Morgan Stanley raised its position in Kellogg by 70.2% in the third quarter. Morgan Stanley now owns 1,730,012 shares of the company’s stock worth $121,137,000 after acquiring an additional 713,311 shares in the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.
Shares of K opened at $56.96 on Thursday. The stock has a market capitalization of $19.21 billion, a P/E ratio of 13.15, a P/E/G ratio of 2.21 and a beta of 0.58. Kellogg has a 1-year low of $54.14 and a 1-year high of $74.98. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.40 and a current ratio of 0.70.
Kellogg (NYSE:K) last released its earnings results on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that Kellogg will post 4.06 EPS for the current year.
In other Kellogg news, CFO Fareed A. Khan bought 8,190 shares of the stock in a transaction on Tuesday, November 20th. The shares were bought at an average price of $62.14 per share, with a total value of $508,926.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 180,000 shares of Kellogg stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $62.24, for a total value of $11,203,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 680,000 shares of company stock worth $40,102,200. Company insiders own 1.40% of the company’s stock.
K has been the topic of a number of analyst reports. Buckingham Research dropped their price target on Kellogg from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Guggenheim initiated coverage on Kellogg in a research note on Tuesday, January 22nd. They issued a “neutral” rating and a $58.70 price target on the stock. Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Deutsche Bank set a $66.00 price target on Kellogg and gave the stock a “hold” rating in a research note on Wednesday, November 14th. Finally, Credit Suisse Group dropped their price target on Kellogg from $70.00 to $66.00 and set a “hold” rating on the stock in a research note on Wednesday, November 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $64.92.
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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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