Invictus RG purchased a new stake in shares of Kellogg Company (NYSE:K) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,312 shares of the company’s stock, valued at approximately $458,000.
A number of other hedge funds have also recently bought and sold shares of K. Dimensional Fund Advisors LP boosted its position in shares of Kellogg by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 566,544 shares of the company’s stock valued at $41,761,000 after buying an additional 18,532 shares during the period. UBS Asset Management Americas Inc. boosted its position in Kellogg by 2.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 875,643 shares of the company’s stock worth $64,543,000 after buying an additional 18,768 shares during the last quarter. Suntrust Banks Inc. boosted its position in Kellogg by 5.3% in the first quarter. Suntrust Banks Inc. now owns 51,229 shares of the company’s stock worth $3,718,000 after buying an additional 2,594 shares during the last quarter. Toronto Dominion Bank boosted its position in Kellogg by 28.8% in the first quarter. Toronto Dominion Bank now owns 108,255 shares of the company’s stock worth $7,866,000 after buying an additional 24,223 shares during the last quarter. Finally, Advisor Partners LLC boosted its position in Kellogg by 19.7% in the first quarter. Advisor Partners LLC now owns 3,995 shares of the company’s stock worth $290,000 after buying an additional 657 shares during the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.
Shares of Kellogg Company (K) opened at 66.75 on Tuesday. The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of 30.20 and a beta of 0.50. Kellogg Company has a 52-week low of $65.32 and a 52-week high of $87.16. The stock has a 50 day moving average price of $71.60 and a 200-day moving average price of $72.68.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. Kellogg had a net margin of 6.07% and a return on equity of 67.99%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the firm earned $0.97 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Kellogg Company will post $3.92 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on the company. Susquehanna Bancshares Inc set a $78.00 price target on Kellogg and gave the stock a “hold” rating in a report on Wednesday, June 14th. Royal Bank Of Canada reduced their price target on Kellogg from $84.00 to $81.00 and set a “sector perform” rating for the company in a report on Friday, May 5th. UBS AG reduced their price target on Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, May 5th. BidaskClub cut Kellogg from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Finally, TheStreet raised Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $79.09.
In other Kellogg news, Director James M. Jenness sold 70,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $71.06, for a total value of $4,974,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction on 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. Insiders have sold a total of 99,900 shares of company stock valued at $7,178,363 over the last 90 days. 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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