Russell Investments Group Ltd. decreased its holdings in shares of Kellogg (NYSE:K) by 19.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,964 shares of the company’s stock after selling 28,141 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kellogg were worth $6,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of K. Ceredex Value Advisors LLC raised its holdings in Kellogg by 37.1% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock valued at $163,488,000 after acquiring an additional 771,375 shares during the period. AMF Pensionsforsakring AB bought a new stake in Kellogg during the 2nd quarter valued at $19,925,000. Geode Capital Management LLC raised its holdings in Kellogg by 11.6% during the 4th quarter. Geode Capital Management LLC now owns 3,517,033 shares of the company’s stock valued at $200,178,000 after acquiring an additional 364,719 shares during the period. Highstreet Asset Management Inc. raised its holdings in Kellogg by 2,314.1% during the 1st quarter. Highstreet Asset Management Inc. now owns 344,714 shares of the company’s stock valued at $19,780,000 after acquiring an additional 330,435 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Kellogg by 27.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,433,186 shares of the company’s stock valued at $81,709,000 after acquiring an additional 311,940 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Goldman Sachs Group upgraded shares of Kellogg from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $72.00 in a research report on Friday, September 6th. ValuEngine upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. GMP Securities reiterated a “buy” rating on shares of Kellogg in a research report on Thursday, July 11th. Consumer Edge lowered shares of Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 target price for the company. in a research report on Monday, June 24th. Finally, Credit Suisse Group set a $60.00 target price on shares of Kellogg and gave the stock a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Kellogg has an average rating of “Hold” and a consensus price target of $64.28.
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 consensus estimate of $0.91 by $0.08. The business had revenue of $3.52 billion during 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 firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities research analysts expect that Kellogg will post 3.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a $0.57 dividend. The ex-dividend date is Friday, August 30th. This is an increase from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.57%. Kellogg’s payout ratio is currently 52.66%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $54.98, for a total value of $5,498,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 600,000 shares of company stock valued at $35,403,000 over the last three months. 0.09% of the stock is currently owned by insiders.
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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