Kellogg (K) Stake Increased by Martingale Asset Management L P

Martingale Asset Management L P lifted its holdings in Kellogg (NYSE:K) by 10.3% in the first quarter, HoldingsChannel reports. The firm owned 370,311 shares of the company’s stock after buying an additional 34,507 shares during the period. Martingale Asset Management L P’s holdings in Kellogg were worth $21,249,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of K. APG Asset Management N.V. boosted its position in shares of Kellogg by 1,277.4% in the 4th quarter. APG Asset Management N.V. now owns 2,658,632 shares of the company’s stock worth $132,589,000 after purchasing an additional 2,465,620 shares in the last quarter. Norges Bank acquired a new stake in Kellogg during the 4th quarter worth about $131,475,000. BlackRock Inc. lifted its position in Kellogg by 9.0% during the 4th quarter. BlackRock Inc. now owns 26,334,804 shares of the company’s stock worth $1,501,346,000 after acquiring an additional 2,171,811 shares during the period. Ceredex Value Advisors LLC lifted its position in Kellogg by 327.2% during the 4th quarter. Ceredex Value Advisors LLC now owns 2,077,844 shares of the company’s stock worth $118,457,000 after acquiring an additional 1,591,469 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in 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 worth $28,000 after acquiring an additional 1,541,399 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on K shares. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Piper Jaffray Companies set a $69.00 price target on Kellogg and gave the stock a “buy” rating in a research report on Friday, February 8th. ValuEngine cut Kellogg from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Pivotal Research cut Kellogg from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $62.00 in a research report on Friday, February 8th. Finally, Deutsche Bank set a $60.00 price target on Kellogg and gave the stock a “hold” rating in a research report on Friday, February 8th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.98.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $54.44, for a total transaction of $5,444,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 600,000 shares of company stock valued at $33,851,000 in the last quarter. Company insiders own 0.09% of the company’s stock.

NYSE K opened at $57.09 on Friday. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 3.24 and a beta of 0.56. Kellogg has a fifty-two week low of $53.14 and a fifty-two week high of $74.98. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 2.75.

Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share 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 return on equity of 43.13% and a net margin of 8.59%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Analysts forecast that Kellogg will post 3.88 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Friday, May 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.92%. Kellogg’s payout ratio is currently 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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