Kellogg (NYSE:K) Shares Sold by City Holding Co.

City Holding Co. decreased its position in shares of Kellogg (NYSE:K) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,187 shares of the company’s stock after selling 653 shares during the quarter. City Holding Co.’s holdings in Kellogg were worth $2,191,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Acima Private Wealth LLC purchased a new stake in shares of Kellogg during the fourth quarter worth approximately $25,000. Bruderman Asset Management LLC boosted its stake in Kellogg by 275.0% during the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after buying an additional 319 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Kellogg by 5,672.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock worth $28,000 after buying an additional 1,541,399 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in Kellogg during the fourth quarter worth $28,000. Finally, ERTS Wealth Advisors LLC acquired a new position in Kellogg during the fourth quarter worth $34,000. 87.01% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $57.84, for a total value of $5,784,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 600,000 shares of company stock worth $33,672,000. 0.09% of the stock is owned by company insiders.

A number of equities analysts have weighed in on K shares. Pivotal Research lowered Kellogg from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $90.00 to $62.00 in a research note on Friday, February 8th. Guggenheim assumed coverage on Kellogg in a research note on Tuesday, January 22nd. They issued a “neutral” rating and a $58.70 price target on the stock. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Kellogg in a research note on Friday, February 8th. Finally, JPMorgan Chase & Co. decreased their price target on Kellogg to $56.00 and set a “neutral” rating on the stock in a research note on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.98.

Shares of NYSE K opened at $57.79 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 2.75. Kellogg has a 1-year low of $53.14 and a 1-year high of $74.98. The stock has a market cap of $19.42 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 3.22 and a beta of 0.56.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.06. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the business earned $1.19 EPS. Kellogg’s revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that Kellogg will post 3.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, May 31st. This represents a $2.24 annualized dividend and a yield of 3.88%. Kellogg’s dividend payout ratio (DPR) is 51.73%.

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Kellogg 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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