Thrivent Financial for Lutherans Has $1.75 Million Position in Kellogg (NYSE:K)

Thrivent Financial for Lutherans boosted its position in shares of Kellogg (NYSE:K) by 186.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,668 shares of the company’s stock after acquiring an additional 19,945 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kellogg were worth $1,748,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bruderman Asset Management LLC increased its holdings in shares of Kellogg by 275.0% in the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 319 shares during the period. Acima Private Wealth LLC acquired a new position in shares of Kellogg in the fourth quarter valued at approximately $25,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Kellogg in the fourth quarter valued at approximately $28,000. ERTS Wealth Advisors LLC acquired a new position in shares of Kellogg in the fourth quarter valued at approximately $34,000. Finally, JOYN Advisors Inc. increased its holdings in shares of Kellogg by 38.9% in the fourth quarter. JOYN Advisors Inc. now owns 660 shares of the company’s stock valued at $38,000 after purchasing an additional 185 shares during the period. Institutional investors own 86.75% of the company’s stock.

K traded up $0.14 during trading on Wednesday, reaching $58.57. 1,563,371 shares of the stock were exchanged, compared to its average volume of 2,682,256. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.40 and a current ratio of 0.70. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 3.30 and a beta of 0.54. Kellogg has a 1 year low of $53.14 and a 1 year high of $74.98.

Kellogg (NYSE:K) last posted its earnings results on Thursday, February 7th. The company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. Kellogg’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. On average, analysts predict that Kellogg will post 3.93 EPS for the current fiscal year.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $57.84, for a total value of $5,784,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 600,000 shares of company stock worth $33,672,000 over the last 90 days. Company insiders own 0.09% of the company’s stock.

K has been the topic of a number of recent research reports. Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Guggenheim initiated coverage on Kellogg in a report on Tuesday, January 22nd. They issued a “neutral” rating and a $58.70 target price on the stock. ValuEngine downgraded Kellogg from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Pivotal Research downgraded Kellogg from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $62.00 in a research note on Friday, February 8th. Finally, Buckingham Research set a $67.00 price target on Kellogg and gave the company a “buy” rating in a research note on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.04.

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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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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