DekaBank Deutsche Girozentrale Has $50.67 Million Holdings in Kellogg Company (K)

DekaBank Deutsche Girozentrale decreased its position in shares of Kellogg Company (NYSE:K) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 722,003 shares of the company’s stock after selling 10,927 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.21% of Kellogg worth $50,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of K. Capital Research Global Investors grew its holdings in shares of Kellogg by 54.7% in the second quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock worth $1,669,244,000 after purchasing an additional 8,495,714 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Kellogg by 0.3% in the second quarter. Vanguard Group Inc. now owns 20,330,268 shares of the company’s stock worth $1,412,139,000 after purchasing an additional 56,284 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Kellogg by 94.3% in the second quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock worth $545,047,000 after purchasing an additional 3,807,425 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Kellogg by 36.7% in the third quarter. American Century Companies Inc. now owns 3,056,142 shares of the company’s stock worth $190,612,000 after purchasing an additional 820,277 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Kellogg by 25.2% in the second quarter. Ameriprise Financial Inc. now owns 3,008,259 shares of the company’s stock worth $208,965,000 after purchasing an additional 606,451 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

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In related news, Director Donald R. Knauss sold 6,846 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total value of $428,354.22. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $312,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven A. Cahillane acquired 15,930 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was bought at an average cost of $62.70 per share, with a total value of $998,811.00. Following the completion of the transaction, the chief executive officer now directly owns 15,930 shares in the company, valued at $998,811. The disclosure for this purchase can be found here. Insiders sold a total of 223,438 shares of company stock valued at $14,077,678 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Kellogg Company (K) traded down $0.94 during mid-day trading on Tuesday, hitting $63.76. 3,419,100 shares of the company’s stock traded hands, compared to its average volume of 2,498,299. The stock has a market capitalization of $22,352.08, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. Kellogg Company has a 1-year low of $58.76 and a 1-year high of $76.69. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71.

Kellogg (NYSE:K) last released its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. sell-side analysts expect that Kellogg Company will post 4.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, November 30th. Kellogg’s payout ratio is currently 96.43%.

A number of analysts recently weighed in on K shares. Royal Bank Of Canada lowered their price objective on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 1st. J P Morgan Chase & Co raised shares of Kellogg from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $76.00 to $78.00 in a research note on Friday, August 4th. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of Kellogg in a research note on Thursday, August 3rd. UBS AG lowered their price objective on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $74.00 price objective (up from $71.00) on shares of Kellogg in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.00.

About Kellogg

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.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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