Meeder Asset Management Inc. lessened its holdings in shares of Kellogg (NYSE:K) by 15.1% in the first quarter, HoldingsChannel.com reports. The fund owned 7,276 shares of the company’s stock after selling 1,292 shares during the quarter. Meeder Asset Management Inc.’s holdings in Kellogg were worth $417,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bruderman Asset Management LLC grew its holdings in Kellogg by 275.0% during the 4th quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 319 shares during the period. Acima Private Wealth LLC acquired a new position in shares of Kellogg in the 4th quarter valued at $25,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Kellogg in the 4th quarter valued at $28,000. ERTS Wealth Advisors LLC acquired a new position in shares of Kellogg in the 4th quarter valued at $34,000. Finally, Capital Financial Planning LLC acquired a new position in shares of Kellogg in the 4th quarter valued at $34,000. 86.75% of the stock is owned by hedge funds and other institutional investors.
K has been the subject of several research analyst reports. ValuEngine lowered shares of Kellogg from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Zacks Investment Research raised shares of Kellogg from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Credit Suisse Group set a $54.00 price target on shares of Kellogg and gave the company a “hold” rating in a report on Saturday, February 9th. JPMorgan Chase & Co. decreased their price target on shares of Kellogg to $56.00 and set a “neutral” rating for the company in a report on Friday, February 8th. Finally, Buckingham Research set a $67.00 price target on shares of Kellogg and gave the company a “buy” rating in a report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $63.04.
K opened at $58.45 on Monday. The firm has a market capitalization of $20.10 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.30 and a beta of 0.54. Kellogg has a 12 month low of $53.14 and a 12 month high of $74.98. The company has a current ratio of 0.70, a quick ratio of 0.40 and a debt-to-equity ratio of 2.60.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, February 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. As a group, equities analysts forecast that Kellogg will post 3.93 EPS for the current year.
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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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