Kellogg W. K. Foundation Trust Sells 100,000 Shares of Kellogg (NYSE:K) Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $62.31, for a total value of $6,231,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellogg W. K. Foundation Trust also recently made the following trade(s):

  • On Friday, September 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $63.96, for a total value of $6,396,000.00.
  • On Tuesday, September 10th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00.
  • On Tuesday, August 20th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $63.22, for a total value of $6,322,000.00.
  • On Monday, August 12th, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $61.51, for a total value of $6,151,000.00.
  • On Monday, July 22nd, Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock. The stock was sold at an average price of $56.28, for a total value of $5,628,000.00.

Shares of Kellogg stock opened at $62.13 on Friday. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 4.57 and a beta of 0.53. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.70 and a quick ratio of 0.46. Kellogg has a 52-week low of $51.34 and a 52-week high of $72.98. The stock has a 50-day simple moving average of $63.30 and a 200-day simple moving average of $58.90.

Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.08. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.41 billion. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. As a group, equities research analysts predict that Kellogg will post 3.87 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.67%. This is a positive change from Kellogg’s previous quarterly dividend of $0.56. The ex-dividend date was Friday, August 30th. Kellogg’s payout ratio is currently 52.66%.

K has been the subject of a number of research reports. Goldman Sachs Group upgraded Kellogg from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $72.00 in a research report on Friday, September 6th. Barclays set a $62.00 price objective on Kellogg and gave the stock a “sell” rating in a research report on Friday, August 2nd. Guggenheim raised their price objective on Kellogg from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. GMP Securities restated a “buy” rating on shares of Kellogg in a research report on Thursday, July 11th. Finally, TheStreet upgraded Kellogg from a “c+” rating to a “b-” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $64.33.

Several institutional investors have recently made changes to their positions in the company. Rockland Trust Co. bought a new position in shares of Kellogg in the 3rd quarter valued at approximately $591,000. Intellectus Partners LLC raised its stake in shares of Kellogg by 3.5% in the 3rd quarter. Intellectus Partners LLC now owns 9,722 shares of the company’s stock valued at $626,000 after acquiring an additional 330 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Kellogg by 21.2% in the 3rd quarter. Pacer Advisors Inc. now owns 37,026 shares of the company’s stock valued at $2,383,000 after acquiring an additional 6,485 shares in the last quarter. American National Bank raised its stake in shares of Kellogg by 8.0% in the 3rd quarter. American National Bank now owns 7,461 shares of the company’s stock valued at $480,000 after acquiring an additional 552 shares in the last quarter. Finally, Manning & Napier Group LLC raised its stake in shares of Kellogg by 0.3% in the 3rd quarter. Manning & Napier Group LLC now owns 127,501 shares of the company’s stock valued at $8,204,000 after acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Kellogg Company 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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Insider Buying and Selling by Quarter for Kellogg (NYSE:K)

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