Commerzbank Aktiengesellschaft FI cut its position in Kellogg (NYSE:K) by 11.9% during the 4th quarter, HoldingsChannel reports. The firm owned 361,770 shares of the company’s stock after selling 48,824 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Kellogg were worth $25,020,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in shares of Kellogg by 5.9% in the 3rd quarter. State Street Corp now owns 12,963,660 shares of the company’s stock valued at $834,212,000 after acquiring an additional 725,882 shares during the period. Beutel Goodman & Co Ltd. boosted its holdings in shares of Kellogg by 1.3% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,943,373 shares of the company’s stock worth $161,307,000 after buying an additional 48,795 shares during the period. Invesco Ltd. boosted its holdings in shares of Kellogg by 9.5% during the 2nd quarter. Invesco Ltd. now owns 3,015,800 shares of the company’s stock worth $161,557,000 after buying an additional 262,198 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Kellogg by 3.0% during the 3rd quarter. California Public Employees Retirement System now owns 2,049,665 shares of the company’s stock worth $131,896,000 after buying an additional 59,742 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Kellogg by 31.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,978,156 shares of the company’s stock worth $105,970,000 after buying an additional 472,686 shares during the period. Institutional investors own 86.96% of the company’s stock.
Shares of NYSE:K traded up $0.14 during midday trading on Friday, hitting $70.88. The stock had a trading volume of 1,824,649 shares, compared to its average volume of 1,630,587. The company’s 50-day moving average price is $67.65 and its 200-day moving average price is $63.17. The company has a market capitalization of $23.88 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 2.45. Kellogg has a fifty-two week low of $51.34 and a fifty-two week high of $71.05.
Kellogg (NYSE:K) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.12. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. Research analysts expect that Kellogg will post 3.88 EPS for the current fiscal year.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $69.33, for a total value of $6,933,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Gary H. Pilnick sold 20,655 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $63.73, for a total transaction of $1,316,343.15. The disclosure for this sale can be found here. Insiders have sold a total of 625,291 shares of company stock worth $41,158,106 over the last three months. Insiders own 0.09% of the company’s stock.
Several brokerages recently commented on K. Royal Bank of Canada assumed coverage on shares of Kellogg in a report on Thursday, October 17th. They set a “sector perform” rating and a $65.00 target price for the company. Deutsche Bank assumed coverage on shares of Kellogg in a research note on Wednesday, December 11th. They issued a “buy” rating and a $74.00 price objective for the company. Buckingham Research lifted their price objective on shares of Kellogg from $71.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. Credit Suisse Group upgraded shares of Kellogg from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $78.00 in a research report on Tuesday, January 7th. Finally, BMO Capital Markets upgraded shares of Kellogg from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $70.00 to $79.00 in a research report on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $67.75.
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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