Hennessy Advisors Inc. lessened its stake in shares of Kellogg (NYSE:K) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,800 shares of the company’s stock after selling 3,400 shares during the quarter. Hennessy Advisors Inc.’s holdings in Kellogg were worth $2,822,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in shares of Kellogg by 1.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 86,335 shares of the company’s stock worth $5,556,000 after buying an additional 977 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of Kellogg by 96.0% during the 3rd quarter. First Mercantile Trust Co. now owns 1,842 shares of the company’s stock worth $119,000 after buying an additional 902 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Kellogg by 70.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 8,554 shares of the company’s stock worth $458,000 after buying an additional 3,542 shares during the last quarter. Evoke Wealth LLC purchased a new stake in shares of Kellogg during the 3rd quarter worth approximately $158,000. Finally, Doliver Advisors LP purchased a new stake in shares of Kellogg during the 3rd quarter worth approximately $228,000. Institutional investors and hedge funds own 86.96% of the company’s stock.
K has been the subject of several research reports. Bank of America upgraded shares of Kellogg from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.00 to $75.00 in a research report on Friday, December 20th. Barclays downgraded shares of Kellogg to an “equal weight” rating in a research report on Tuesday, October 15th. Credit Suisse Group upgraded shares of Kellogg from a “neutral” rating to an “outperform” rating and upped their price target for the company from $60.00 to $78.00 in a research report on Tuesday, January 7th. Zacks Investment Research downgraded shares of Kellogg from a “hold” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Friday, January 10th. Finally, BMO Capital Markets upgraded shares of Kellogg from a “market perform” rating to an “outperform” rating and upped their price target for the company from $70.00 to $79.00 in a research report on Thursday, January 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $67.75.
K stock opened at $70.27 on Thursday. The company has a fifty day moving average price of $67.55 and a 200 day moving average price of $63.09. Kellogg has a 12 month low of $51.34 and a 12 month high of $70.63. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.80 and a quick ratio of 0.52.
Kellogg (NYSE:K) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.12. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.35 billion. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. Kellogg’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, analysts anticipate that Kellogg will post 3.88 earnings per share for the current year.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $62.56, for a total transaction of $6,256,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Alistair D. Hirst sold 2,500 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $63.88, for a total transaction of $159,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,291 shares of company stock valued at $41,158,106. 0.09% of the stock is owned by insiders.
About Kellogg
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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