Robeco Institutional Asset Management B.V. lowered its stake in Kellogg (NYSE:K) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,330 shares of the company’s stock after selling 22,908 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Kellogg were worth $6,734,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JOYN Advisors Inc. boosted its position in Kellogg by 38.9% during the 4th quarter. JOYN Advisors Inc. now owns 660 shares of the company’s stock valued at $38,000 after acquiring an additional 185 shares in the last quarter. Sun Life Financial INC boosted its position in Kellogg by 0.9% during the 4th quarter. Sun Life Financial INC now owns 21,889 shares of the company’s stock valued at $1,249,000 after acquiring an additional 199 shares in the last quarter. Bell Rock Capital LLC boosted its position in Kellogg by 13.0% during the 1st quarter. Bell Rock Capital LLC now owns 2,161 shares of the company’s stock valued at $125,000 after acquiring an additional 249 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Kellogg by 1.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,203 shares of the company’s stock valued at $1,152,000 after acquiring an additional 262 shares in the last quarter. Finally, Sage Capital Advisors llc boosted its position in Kellogg by 0.4% during the 1st quarter. Sage Capital Advisors llc now owns 71,613 shares of the company’s stock valued at $4,109,000 after acquiring an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.
Several research firms have weighed in on K. Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine raised Kellogg from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th. BMO Capital Markets cut their price objective on Kellogg to $62.00 and set a “market perform” rating on the stock in a research report on Friday, February 8th. Piper Jaffray Companies cut their price objective on Kellogg from $69.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. Finally, Buckingham Research set a $67.00 price objective on Kellogg and gave the company a “buy” rating in a research report on Friday, February 8th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $62.98.
K stock opened at $57.17 on Thursday. Kellogg has a 52-week low of $53.14 and a 52-week high of $74.98. The company has a market cap of $19.48 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 3.31 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 2.75.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the business earned $1.19 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts predict that Kellogg will post 3.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a $0.56 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.24 dividend on an annualized basis and a yield of 3.92%. Kellogg’s payout ratio is currently 51.73%.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $53.98, for a total value of $5,398,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 600,000 shares of company stock valued at $33,977,000. 0.09% of the stock is owned by company 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. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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