DeDora Capital Inc. purchased a new stake in Kellogg (NYSE:K) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,755 shares of the company’s stock, valued at approximately $215,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Acima Private Wealth LLC purchased a new position in shares of Kellogg during the 4th quarter valued at $25,000. Bruderman Asset Management LLC grew its holdings in shares of 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 acquiring an additional 319 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Kellogg by 5,672.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock valued at $28,000 after acquiring an additional 1,541,399 shares in the last quarter. Murphy Pohlad Asset Management LLC bought a new stake in Kellogg in the fourth quarter worth $28,000. Finally, ERTS Wealth Advisors LLC bought a new stake in Kellogg in the fourth quarter worth $34,000. 86.77% 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 company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $57.84, for a total transaction of $5,784,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 600,000 shares of company stock valued at $33,672,000 in the last ninety days. 0.09% of the stock is owned by company insiders.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.06. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.53 billion. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. As a group, equities analysts anticipate that Kellogg will post 3.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, May 31st. Kellogg’s dividend payout ratio is currently 51.73%.
K has been the subject of a number of recent research reports. Guggenheim initiated coverage on shares of Kellogg in a report on Tuesday, January 22nd. They issued a “neutral” rating and a $58.70 price objective for the company. Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Piper Jaffray Companies set a $69.00 price objective on shares of Kellogg and gave the stock a “buy” rating in a report on Friday, February 8th. Pivotal Research cut shares of Kellogg from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $90.00 to $62.00 in a report on Friday, February 8th. Finally, ValuEngine cut shares of Kellogg from a “hold” rating to a “sell” rating in a report on Friday, February 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Kellogg presently has a consensus rating of “Hold” and an average target price of $63.11.
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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