Kellogg (K) Position Lessened by Heartland Advisors Inc.

Heartland Advisors Inc. reduced its position in shares of Kellogg (NYSE:K) by 8.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 57,096 shares of the company’s stock after selling 5,329 shares during the quarter. Heartland Advisors Inc.’s holdings in Kellogg were worth $3,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of K. American International Group Inc. boosted its holdings in shares of Kellogg by 6,576.3% during the 4th quarter. American International Group Inc. now owns 7,475,250 shares of the company’s stock worth $508,167,000 after buying an additional 7,363,283 shares during the period. BlackRock Inc. boosted its holdings in shares of Kellogg by 16.1% during the 4th quarter. BlackRock Inc. now owns 24,688,888 shares of the company’s stock worth $1,678,353,000 after buying an additional 3,421,334 shares during the period. LSV Asset Management bought a new stake in Kellogg in the 4th quarter valued at $79,597,000. American Century Companies Inc. boosted its holdings in Kellogg by 30.5% in the 1st quarter. American Century Companies Inc. now owns 4,221,683 shares of the company’s stock valued at $274,452,000 after purchasing an additional 985,494 shares during the period. Finally, Flossbach Von Storch AG bought a new stake in Kellogg in the 4th quarter valued at $59,499,000. 88.87% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on the stock. Pivotal Research reissued a “buy” rating and issued a $90.00 price target on shares of Kellogg in a report on Thursday, May 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $72.00 price target on shares of Kellogg in a report on Tuesday, April 24th. Bank of America increased their price target on shares of Kellogg from $66.00 to $69.00 and gave the company an “underperform” rating in a report on Friday, February 9th. Citigroup reduced their price target on shares of Kellogg from $91.00 to $87.00 and set a “buy” rating for the company in a report on Friday, February 9th. Finally, ValuEngine downgraded shares of Kellogg from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $70.53.

Kellogg opened at $65.23 on Monday, Marketbeat Ratings reports. The stock has a market cap of $22.62 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.99 and a beta of 0.47. Kellogg has a 52 week low of $56.40 and a 52 week high of $74.28. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 3.09.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, May 3rd. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.11. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.30 billion. Kellogg had a net margin of 11.10% and a return on equity of 67.81%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. equities research analysts expect that Kellogg will post 4.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, May 31st. Kellogg’s payout ratio is 53.47%.

In other news, CFO Fareed A. Khan bought 8,080 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was acquired at an average price of $61.78 per share, for a total transaction of $499,182.40. Following the transaction, the chief financial officer now directly owns 8,080 shares of the company’s stock, valued at approximately $499,182.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 13,845 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $67.68, for a total transaction of $937,029.60. The disclosure for this sale can be found here. Insiders have sold a total of 644,099 shares of company stock valued at $42,066,991 over the last ninety days. 1.40% 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. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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