Pacer Advisors Inc. Raises Holdings in Kellogg (NYSE:K)

Pacer Advisors Inc. increased its stake in shares of Kellogg (NYSE:K) by 3,386.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,392 shares of the company’s stock after purchasing an additional 34,377 shares during the quarter. Pacer Advisors Inc.’s holdings in Kellogg were worth $2,338,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in K. Bay Harbor Wealth Management LLC purchased a new position in Kellogg during the first quarter worth approximately $29,000. Citizens Financial Group Inc RI grew its stake in shares of Kellogg by 229.4% in the first quarter. Citizens Financial Group Inc RI now owns 639 shares of the company’s stock valued at $38,000 after buying an additional 445 shares in the last quarter. Ellevest Inc. grew its stake in shares of Kellogg by 63.3% in the first quarter. Ellevest Inc. now owns 733 shares of the company’s stock valued at $44,000 after buying an additional 284 shares in the last quarter. Capital Square LLC purchased a new position in Kellogg in the first quarter valued at $46,000. Finally, Trustcore Financial Services LLC purchased a new position in Kellogg in the first quarter valued at $48,000. 84.43% of the stock is currently owned by institutional investors.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $66.52, for a total transaction of $6,652,000.00. Insiders sold a total of 400,000 shares of company stock worth $26,766,000 in the last quarter. Insiders own 1.10% of the company’s stock.

K has been the subject of several research reports. Morgan Stanley boosted their target price on Kellogg from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Friday. Zacks Investment Research raised Kellogg from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday. Seaport Global Securities began coverage on Kellogg in a research note on Tuesday, July 28th. They set a “buy” rating and a $76.00 price target on the stock. ValuEngine lowered Kellogg from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their price target on Kellogg from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $70.24.

Kellogg stock opened at $68.99 on Friday. The company has a 50 day moving average price of $66.92 and a 200 day moving average price of $65.16. Kellogg has a 52 week low of $52.66 and a 52 week high of $72.88. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.55 and a current ratio of 0.77. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 4.55 and a beta of 0.57.

Kellogg (NYSE:K) last issued its earnings results on Thursday, July 30th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Kellogg had a net margin of 8.09% and a return on equity of 43.36%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts forecast that Kellogg will post 3.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.57 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.28 annualized dividend and a yield of 3.30%. Kellogg’s dividend payout ratio (DPR) is presently 57.87%.

About Kellogg

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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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