Mn Services Vermogensbeheer B.V. boosted its position in shares of Kellogg Company (NYSE:K) by 509.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,751 shares of the company’s stock after buying an additional 35,732 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Kellogg were worth $2,969,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 in the last quarter. 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 in the last quarter. Kentucky Retirement Systems bought a new position in Kellogg during the fourth quarter worth approximately $1,351,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Kellogg during the fourth quarter worth approximately $603,000. Finally, Highbridge Capital Management LLC bought a new position in Kellogg during the fourth quarter worth approximately $3,315,000. 83.53% of the stock is currently owned by institutional investors.
Shares of Kellogg Company (NYSE K) traded up 0.09% during trading on Friday, hitting $68.81. 1,054,904 shares of the stock traded hands. The stock has a 50 day moving average of $67.95 and a 200 day moving average of $71.57. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 31.15 and a beta of 0.50. Kellogg Company has a 52-week low of $65.32 and a 52-week high of $84.01.
Kellogg (NYSE:K) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts expect that Kellogg Company will post $3.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.14%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, August 30th. Kellogg’s dividend payout ratio is presently 94.12%.
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A number of equities analysts have commented on K shares. BidaskClub cut shares of Kellogg from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Sanford C. Bernstein set a $62.00 price target on shares of Kellogg and gave the company a “sell” rating in a report on Tuesday, June 27th. Morgan Stanley reiterated an “equal weight” rating and set a $69.00 price target (down from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $80.00 price objective (down from $82.00) on shares of Kellogg in a report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Kellogg presently has an average rating of “Hold” and a consensus target price of $74.50.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
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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