Kellogg (NYSE:K) Major Shareholder Sells $7,107,000.00 in Stock

Kellogg (NYSE:KGet Rating) major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $71.07, for a total transaction of $7,107,000.00. Following the completion of the sale, the insider now owns 56,131,838 shares of the company’s stock, valued at approximately $3,989,289,726.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellogg Price Performance

Shares of Kellogg stock opened at $72.51 on Friday. Kellogg has a twelve month low of $59.54 and a twelve month high of $77.17. The company has a quick ratio of 0.46, a current ratio of 0.74 and a debt-to-equity ratio of 1.20. The company has a 50-day simple moving average of $72.04 and a two-hundred day simple moving average of $71.98. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 4.61 and a beta of 0.46.

Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.25%. The ex-dividend date is Wednesday, November 30th. Kellogg’s dividend payout ratio (DPR) is 54.38%.

Institutional Trading of Kellogg

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Toroso Investments LLC raised its stake in Kellogg by 64.4% in the 3rd quarter. Toroso Investments LLC now owns 36,533 shares of the company’s stock worth $2,545,000 after purchasing an additional 14,305 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Kellogg in the 3rd quarter valued at about $231,000. Teachers Retirement System of The State of Kentucky bought a new position in Kellogg in the 3rd quarter valued at about $1,620,000. FourThought Financial LLC increased its holdings in Kellogg by 724.5% in the 3rd quarter. FourThought Financial LLC now owns 1,245 shares of the company’s stock valued at $87,000 after buying an additional 1,094 shares during the period. Finally, Power Corp of Canada bought a new position in Kellogg in the 3rd quarter valued at about $1,351,000. Institutional investors and hedge funds own 84.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on K shares. Exane BNP Paribas started coverage on shares of Kellogg in a research note on Tuesday, November 15th. They issued an “underperform” rating and a $66.00 price target for the company. Credit Suisse Group increased their price target on shares of Kellogg to $72.00 in a research note on Tuesday, August 9th. Piper Sandler cut their price target on shares of Kellogg to $72.00 in a research note on Wednesday, October 5th. StockNews.com started coverage on shares of Kellogg in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Finally, BNP Paribas started coverage on shares of Kellogg in a research note on Tuesday, November 15th. They set an “underperform” rating and a $66.00 target price for the company. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kellogg has an average rating of “Hold” and a consensus price target of $71.64.

Kellogg Company Profile

(Get Rating)

Kellogg Company, together with its subsidiaries, manufactures and markets snacks 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, granola bars and bites, 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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