First Financial Bank Trust Division lifted its holdings in Kellogg (NYSE:K) by 8.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,401 shares of the company’s stock after acquiring an additional 3,949 shares during the period. First Financial Bank Trust Division’s holdings in Kellogg were worth $3,006,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. Bruderman Asset Management LLC boosted its stake in Kellogg by 275.0% during the 4th 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 last quarter. Acima Private Wealth LLC purchased a new position in shares of Kellogg in the 4th quarter worth approximately $25,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of Kellogg in the 4th quarter worth approximately $28,000. ERTS Wealth Advisors LLC purchased a new position in shares of Kellogg in the 4th quarter worth approximately $34,000. Finally, Capital Financial Planning LLC purchased a new position in shares of Kellogg in the 4th quarter worth approximately $34,000. 86.76% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:K opened at $58.57 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.70 and a debt-to-equity ratio of 2.60. Kellogg has a 52-week low of $53.14 and a 52-week high of $74.98. The firm has a market capitalization of $20.09 billion, a P/E ratio of 13.59, a P/E/G ratio of 3.30 and a beta of 0.54.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $54.76, for a total transaction of $5,476,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 600,000 shares of company stock valued at $33,672,000. Company insiders own 0.09% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. BMO Capital Markets lowered their price target on shares of Kellogg to $62.00 and set a “market perform” rating on the stock in a report on Friday, February 8th. Piper Jaffray Companies lowered their price target on shares of Kellogg from $69.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Buckingham Research set a $67.00 target price on shares of Kellogg and gave the company a “buy” rating in a report on Friday, February 8th. Finally, Credit Suisse Group reissued a “neutral” rating on shares of Kellogg in a report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Kellogg currently has an average rating of “Hold” and a consensus target price of $63.04.
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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