Kellogg W. K. Foundation Trust Sells 83,333 Shares of Kellogg (NYSE:K) Stock

Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the business’s stock in a transaction that occurred on Thursday, June 10th. The stock was sold at an average price of $65.05, for a total value of $5,420,811.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, May 10th, Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock. The stock was sold at an average price of $67.55, for a total value of $5,629,144.15.
  • On Tuesday, April 20th, Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock. The stock was sold at an average price of $64.09, for a total value of $5,340,876.06.
  • On Monday, April 12th, Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock. The stock was sold at an average price of $63.22, for a total value of $5,268,312.26.
  • On Monday, March 22nd, Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock. The shares were sold at an average price of $61.89, for a total value of $5,157,541.26.

Shares of NYSE:K traded down $0.11 during midday trading on Friday, hitting $65.19. The company had a trading volume of 23,347 shares, compared to its average volume of 3,164,715. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.43 and a current ratio of 0.68. The firm has a market cap of $22.20 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 3.61 and a beta of 0.65. Kellogg has a 12-month low of $56.61 and a 12-month high of $72.88. The business has a fifty day simple moving average of $64.82.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, May 6th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.96 by $0.15. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.38 billion. Kellogg had a return on equity of 39.78% and a net margin of 9.12%. Kellogg’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. On average, equities analysts expect that Kellogg will post 4.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, May 28th. This is a positive change from Kellogg’s previous quarterly dividend of $0.57. Kellogg’s dividend payout ratio is presently 58.15%.

A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC increased its stake in Kellogg by 317.9% in the 1st quarter. Advisory Services Network LLC now owns 30,328 shares of the company’s stock worth $1,920,000 after buying an additional 23,071 shares in the last quarter. Columbia Asset Management increased its stake in Kellogg by 8.6% in the 1st quarter. Columbia Asset Management now owns 9,449 shares of the company’s stock worth $598,000 after buying an additional 745 shares in the last quarter. Physicians Financial Services Inc. increased its stake in Kellogg by 4.9% in the 1st quarter. Physicians Financial Services Inc. now owns 4,421 shares of the company’s stock worth $280,000 after buying an additional 207 shares in the last quarter. Factorial Partners LLC increased its stake in Kellogg by 6.9% in the 1st quarter. Factorial Partners LLC now owns 42,000 shares of the company’s stock worth $2,659,000 after buying an additional 2,700 shares in the last quarter. Finally, tru Independence LLC increased its stake in Kellogg by 3.5% in the 1st quarter. tru Independence LLC now owns 89,915 shares of the company’s stock worth $5,691,000 after buying an additional 3,045 shares in the last quarter. Institutional investors and hedge funds own 86.28% of the company’s stock.

Several equities analysts recently issued reports on K shares. Citigroup lowered their price objective on Kellogg from $75.00 to $72.00 in a research report on Tuesday, February 16th. SVB Leerink reaffirmed a “buy” rating on shares of Kellogg in a research report on Thursday, May 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on Kellogg from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 28th. BMO Capital Markets upped their price objective on Kellogg from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, May 7th. Finally, Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a report on Monday, May 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $67.92.

Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars and bites, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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