Calamos Advisors LLC reduced its stake in Kellogg (NYSE:K) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,131 shares of the company’s stock after selling 2,065 shares during the period. Calamos Advisors LLC’s holdings in Kellogg were worth $8,723,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Voya Investment Management LLC boosted its stake in Kellogg by 733.1% during the third quarter. Voya Investment Management LLC now owns 1,279,280 shares of the company’s stock valued at $82,321,000 after buying an additional 1,125,723 shares during the period. Nuveen Asset Management LLC bought a new stake in Kellogg during the second quarter valued at $54,543,000. State Street Corp boosted its stake in Kellogg by 5.9% during the third quarter. State Street Corp now owns 12,963,660 shares of the company’s stock valued at $834,212,000 after buying an additional 725,882 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Kellogg by 31.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,978,156 shares of the company’s stock valued at $105,970,000 after buying an additional 472,686 shares during the period. Finally, Polaris Greystone Financial Group LLC bought a new stake in Kellogg during the third quarter valued at $26,115,000. 86.96% of the stock is owned by hedge funds and other institutional investors.
In related news, Vice Chairman Gary H. Pilnick sold 20,655 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $63.73, for a total transaction of $1,316,343.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $62.56, for a total value of $6,256,000.00. 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. Company insiders own 0.09% of the company’s stock.
Several research firms recently issued reports on K. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating and set a $73.00 price objective for the company. in a research note on Friday, January 10th. Buckingham Research lifted their price objective on Kellogg from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Monday. Edward Jones raised Kellogg from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America raised Kellogg from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $75.00 in a research note on Friday, December 20th. Finally, BMO Capital Markets raised Kellogg from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $79.00 in a research note on Thursday, January 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.75.
K opened at $70.74 on Friday. The company has a market cap of $23.88 billion, a P/E ratio of 16.34, a P/E/G ratio of 2.90 and a beta of 0.53. The business’s 50-day moving average price is $67.65 and its 200-day moving average price is $63.17. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 2.45. Kellogg has a 12 month low of $51.34 and a 12 month high of $70.86.
Kellogg (NYSE:K) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.35 billion. Kellogg had a return on equity of 42.47% and a net margin of 5.35%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 earnings per share. Equities research analysts forecast that Kellogg will post 3.88 earnings per share for the current fiscal year.
Kellogg Company Profile
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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