FineMark National Bank & Trust lowered its stake in shares of Kellogg Company (NYSE:K) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,331 shares of the company’s stock after selling 358 shares during the period. FineMark National Bank & Trust’s holdings in Kellogg were worth $231,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in K. Reliance Trust Co. of Delaware boosted its stake in Kellogg by 1.0% in the first quarter. Reliance Trust Co. of Delaware now owns 3,937 shares of the company’s stock valued at $286,000 after buying an additional 38 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in Kellogg during the first quarter valued at $954,000. Private Bank & Trust Co. boosted its stake in Kellogg by 29.0% in the first quarter. Private Bank & Trust Co. now owns 6,240 shares of the company’s stock valued at $454,000 after buying an additional 1,404 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Kellogg by 1.5% in the first quarter. Alpha Windward LLC now owns 2,564 shares of the company’s stock valued at $186,000 after buying an additional 37 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of Kellogg by 7.0% in the first quarter. National Pension Service now owns 226,007 shares of the company’s stock valued at $16,395,000 after buying an additional 14,764 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Kellogg Company (NYSE:K) traded up 0.09% during trading on Friday, reaching $68.81. 1,054,904 shares of the company were exchanged. Kellogg Company has a one year low of $65.32 and a one year high of $83.83. The company has a market capitalization of $23.75 billion, a PE ratio of 31.15 and a beta of 0.50. The firm’s 50 day moving average price is $67.90 and its 200 day moving average price is $71.54.
Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Equities research analysts forecast that Kellogg Company will post $3.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.54 per share. This is an increase from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, August 30th. Kellogg’s dividend payout ratio is presently 94.12%.
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A number of brokerages recently issued reports on K. BidaskClub cut shares of Kellogg from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Susquehanna Bancshares Inc set a $78.00 price objective on shares of Kellogg and gave the company a “hold” rating in a report on Wednesday, June 14th. UBS AG decreased their price objective on shares of Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Royal Bank Of Canada cut their price target on shares of Kellogg from $84.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Friday, May 5th. Finally, TheStreet raised shares of Kellogg from a “c+” rating to a “b+” rating in a research note on Thursday, May 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Kellogg has an average rating of “Hold” and a consensus price target of $74.50.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John T. Dillon sold 4,900 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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