First Financial Bank Trust Division Sells 2,117 Shares of Kellogg (NYSE:K)

First Financial Bank Trust Division lowered its holdings in Kellogg (NYSE:K) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 104,932 shares of the company’s stock after selling 2,117 shares during the quarter. First Financial Bank Trust Division’s holdings in Kellogg were worth $6,643,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Clearview Wealth Advisors LLC acquired a new position in Kellogg during the 4th quarter worth about $25,000. Perigon Wealth Management LLC acquired a new stake in Kellogg in the 4th quarter valued at about $29,000. Birchcreek Wealth Management LLC bought a new position in shares of Kellogg in the fourth quarter worth about $31,000. Kempen Capital Management N.V. lifted its position in shares of Kellogg by 72.9% during the fourth quarter. Kempen Capital Management N.V. now owns 505 shares of the company’s stock worth $31,000 after purchasing an additional 213 shares in the last quarter. Finally, Charter Oak Capital Management LLC bought a new stake in shares of Kellogg during the fourth quarter valued at approximately $35,000. Institutional investors own 86.08% of the company’s stock.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the firm’s stock in a transaction on Monday, January 11th. The shares were sold at an average price of $59.66, for a total transaction of $4,971,646.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 500,001 shares of company stock worth $29,460,060 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

A number of brokerages have commented on K. Morgan Stanley decreased their price objective on Kellogg from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, February 12th. JPMorgan Chase & Co. decreased their price target on Kellogg from $67.00 to $58.00 in a report on Tuesday, January 19th. Piper Sandler cut Kellogg from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $76.00 to $66.00 in a report on Tuesday, January 5th. Jefferies Financial Group reduced their target price on shares of Kellogg from $69.00 to $65.00 and set a “hold” rating on the stock in a research note on Tuesday, January 12th. Finally, Citigroup lowered their price target on shares of Kellogg from $75.00 to $72.00 in a research report on Tuesday, February 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Kellogg has an average rating of “Hold” and a consensus target price of $66.83.

Shares of K traded up $0.08 during trading hours on Thursday, reaching $63.75. The stock had a trading volume of 8,593 shares, compared to its average volume of 3,526,347. The company has a market cap of $21.70 billion, a P/E ratio of 18.40, a P/E/G ratio of 3.71 and a beta of 0.60. Kellogg has a 52 week low of $56.61 and a 52 week high of $72.88. The company has a quick ratio of 0.58, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The firm has a 50-day moving average of $60.41 and a 200 day moving average of $61.92.

Kellogg (NYSE:K) last posted its earnings results on Wednesday, February 10th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.03). The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.53 billion. Kellogg had a net margin of 8.80% and a return on equity of 41.23%. As a group, equities analysts expect that Kellogg will post 4.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Tuesday, March 9th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 1st. This represents a $2.28 dividend on an annualized basis and a yield of 3.58%. Kellogg’s payout ratio is 57.87%.

Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, 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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