Kellogg Company (K) Stake Lessened by Wilbanks Smith & Thomas Asset Management LLC

Wilbanks Smith & Thomas Asset Management LLC trimmed its holdings in Kellogg Company (NYSE:K) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,660 shares of the company’s stock after selling 790 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Kellogg were worth $5,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC lifted its stake in shares of Kellogg by 94.3% in the 2nd quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after purchasing an additional 3,807,425 shares during the period. Invictus RG acquired a new position in Kellogg during the 1st quarter worth approximately $458,000. Cim Investment Mangement Inc. acquired a new position in Kellogg during the 2nd quarter worth approximately $563,000. CIBC World Markets Inc. raised its stake in Kellogg by 29.1% during the 2nd quarter. CIBC World Markets Inc. now owns 33,225 shares of the company’s stock worth $2,308,000 after buying an additional 7,487 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Kellogg by 157.0% during the 2nd quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock worth $950,000 after buying an additional 8,353 shares during the period. 85.40% of the stock is currently owned by institutional investors.

Shares of Kellogg Company (NYSE:K) traded up 0.7955% during mid-day trading on Tuesday, hitting $61.5256. The stock had a trading volume of 1,584,656 shares. The firm has a market cap of $21.23 billion, a PE ratio of 27.8522 and a beta of 0.48. The stock’s 50-day moving average price is $65.80 and its 200-day moving average price is $69.27. Kellogg Company has a 52-week low of $61.03 and a 52-week high of $78.37.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. On average, analysts anticipate that Kellogg Company will post $3.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.54%. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, August 30th. Kellogg’s dividend payout ratio (DPR) is presently 97.74%.

A number of research firms recently weighed in on K. Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the stock a “buy” rating in a research note on Monday, August 7th. Royal Bank Of Canada dropped their price target on Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 1st. J P Morgan Chase & Co raised Kellogg from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $76.00 to $78.00 in a research note on Friday, August 4th. Zacks Investment Research downgraded Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $74.00 price target (up from $71.00) on shares of Kellogg in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $73.73.

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Kellogg Profile

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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