Nkcfo LLC acquired a new position in Kellogg (NYSE:K) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 77,600 shares of the company’s stock, valued at approximately $5,367,000. Kellogg comprises about 3.9% of Nkcfo LLC’s holdings, making the stock its 9th biggest holding.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Harvest Investment Services LLC purchased a new position in shares of Kellogg in the fourth quarter worth $280,000. Lineweaver Wealth Advisors LLC purchased a new position in shares of Kellogg in the fourth quarter worth $226,000. Occidental Asset Management LLC lifted its holdings in shares of Kellogg by 10.8% in the fourth quarter. Occidental Asset Management LLC now owns 12,313 shares of the company’s stock worth $852,000 after buying an additional 1,204 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of Kellogg in the fourth quarter worth $265,000. Finally, Ingalls & Snyder LLC purchased a new position in shares of Kellogg in the fourth quarter worth $203,000. 86.96% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Kellogg in a research report on Thursday, October 24th. They issued an “in-line” rating and a $67.00 price target on the stock. Edward Jones upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a research report on Friday, January 10th. Barclays cut shares of Kellogg to an “equal weight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets upgraded shares of Kellogg from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $70.00 to $79.00 in a research report on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.75.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Alistair D. Hirst sold 2,500 shares of the firm’s stock in a transaction that occurred 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 quarter, insiders sold 625,291 shares of company stock worth $41,158,106. 0.09% of the stock is owned by corporate insiders.
Shares of K traded up $0.16 during trading hours on Friday, reaching $70.90. 30,502 shares of the company traded hands, compared to its average volume of 1,612,947. The firm has a market cap of $23.88 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.90 and a beta of 0.53. Kellogg has a 12-month low of $51.34 and a 12-month high of $70.86. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 2.45. The stock’s fifty day moving average price is $67.65 and its 200 day moving average price is $63.17.
Kellogg (NYSE:K) last issued its earnings results on Tuesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. On average, research analysts forecast that Kellogg will post 3.88 earnings per share for the current year.
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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