Northside Capital Management LLC lessened its position in shares of Kellogg (NYSE:K) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,964 shares of the company’s stock after selling 241 shares during the quarter. Northside Capital Management LLC’s holdings in Kellogg were worth $512,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. grew its position in shares of Kellogg by 117.4% in the second quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock valued at $30,000 after purchasing an additional 304 shares during the period. AGF Investments LLC grew its position in shares of Kellogg by 39.4% in the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after purchasing an additional 234 shares during the period. WealthStone Inc. acquired a new stake in shares of Kellogg in the second quarter valued at about $48,000. Capital Investment Advisory Services LLC grew its position in shares of Kellogg by 37.6% in the second quarter. Capital Investment Advisory Services LLC now owns 1,216 shares of the company’s stock valued at $69,000 after purchasing an additional 332 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in shares of Kellogg in the third quarter valued at about $72,000. Institutional investors own 88.40% of the company’s stock.
Shares of NYSE:K traded up $0.18 during midday trading on Friday, hitting $62.55. The company’s stock had a trading volume of 633,095 shares, compared to its average volume of 1,668,036. The business’s 50 day simple moving average is $63.32 and its 200 day simple moving average is $58.87. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.46 and a current ratio of 0.70. The company has a market cap of $21.06 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 4.57 and a beta of 0.53. Kellogg has a 12-month low of $51.34 and a 12-month high of $72.98.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.41 billion. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. On average, sell-side analysts predict that Kellogg will post 3.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This is an increase from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, August 30th. Kellogg’s dividend payout ratio (DPR) is currently 52.66%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $62.31, for a total transaction of $6,231,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 600,000 shares of company stock worth $37,037,000. Insiders own 0.09% of the company’s stock.
K has been the topic of several research analyst reports. Canaccord Genuity reiterated an “average” rating on shares of Kellogg in a research report on Tuesday, June 25th. Morgan Stanley lifted their target price on shares of Kellogg from $56.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Consumer Edge lowered shares of Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 target price on the stock. in a research report on Monday, June 24th. Credit Suisse Group set a $60.00 target price on shares of Kellogg and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, TheStreet upgraded shares of Kellogg from a “c+” rating to a “b-” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $64.33.
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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