Kellogg (NYSE:K) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN increased its holdings in shares of Kellogg (NYSE:K) by 41.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,715 shares of the company’s stock after purchasing an additional 1,973 shares during the period. OLD National Bancorp IN’s holdings in Kellogg were worth $359,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Moors & Cabot Inc. lifted its stake in shares of Kellogg by 3.3% in the 1st quarter. Moors & Cabot Inc. now owns 6,301 shares of the company’s stock worth $357,000 after acquiring an additional 200 shares during the period. 6 Meridian lifted its stake in shares of Kellogg by 2.7% in the 2nd quarter. 6 Meridian now owns 8,305 shares of the company’s stock worth $445,000 after acquiring an additional 217 shares during the period. Bell Rock Capital LLC lifted its stake in shares of Kellogg by 13.0% in the 1st quarter. Bell Rock Capital LLC now owns 2,161 shares of the company’s stock worth $125,000 after acquiring an additional 249 shares during the period. Sawyer & Company Inc lifted its stake in shares of Kellogg by 10.2% in the 1st quarter. Sawyer & Company Inc now owns 2,761 shares of the company’s stock worth $158,000 after acquiring an additional 255 shares during the period. Finally, Independent Advisor Alliance lifted its stake in shares of Kellogg by 2.8% in the 1st quarter. Independent Advisor Alliance now owns 9,562 shares of the company’s stock worth $549,000 after acquiring an additional 263 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $57.81, for a total transaction of $5,781,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 600,000 shares of company stock valued at $33,544,000 over the last 90 days. 0.09% of the stock is currently owned by insiders.

K has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. ValuEngine downgraded shares of Kellogg from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Canaccord Genuity reiterated an “average” rating on shares of Kellogg in a report on Tuesday, June 25th. GMP Securities reiterated a “buy” rating on shares of Kellogg in a report on Thursday, July 11th. Finally, Piper Jaffray Companies cut their price target on shares of Kellogg from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.05.

NYSE:K traded up $4.50 during mid-day trading on Thursday, hitting $62.72. 6,369,270 shares of the company’s stock traded hands, compared to its average volume of 2,528,339. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 2.75. The business has a 50 day simple moving average of $55.93. Kellogg has a 1 year low of $51.34 and a 1 year high of $74.98. The stock has a market capitalization of $19.89 billion, a P/E ratio of 14.48, a PEG ratio of 3.37 and a beta of 0.63.

Kellogg (NYSE:K) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.06. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the firm posted $1.19 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts anticipate that Kellogg will post 3.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, August 30th. Kellogg’s dividend payout ratio (DPR) is 51.73%.

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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