Kellogg (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $61.89, for a total value of $5,157,541.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Kellogg W. K. Foundation Trust also recently made the following trade(s):
- On Wednesday, March 10th, Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock. The stock was sold at an average price of $59.02, for a total value of $4,918,313.66.
- On Monday, February 22nd, Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock. The shares were sold at an average price of $58.28, for a total value of $4,856,705.52.
- On Friday, February 12th, Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock. The shares were sold at an average price of $57.22, for a total value of $4,768,314.26.
- On Wednesday, January 20th, Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock. The shares were sold at an average price of $57.45, for a total value of $4,787,538.30.
- On Monday, January 11th, Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock. The shares were sold at an average price of $59.66, for a total value of $4,971,646.78.
Shares of K traded up $1.58 during trading hours on Monday, reaching $62.39. The stock had a trading volume of 3,523,521 shares, compared to its average volume of 3,620,583. The stock has a market capitalization of $21.23 billion, a PE ratio of 18.00, a PEG ratio of 3.71 and a beta of 0.60. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.58 and a current ratio of 0.79. Kellogg has a 12 month low of $52.66 and a 12 month high of $72.88. The company's 50-day moving average is $58.58 and its two-hundred day moving average is $62.27.
Kellogg (NYSE:K) last issued its earnings results on Wednesday, February 10th. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.89 by ($0.03). Kellogg had a net margin of 8.80% and a return on equity of 41.23%. Equities analysts anticipate that Kellogg will post 4.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Tuesday, March 9th were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 1st. This represents a $2.28 annualized dividend and a dividend yield of 3.65%. Kellogg's dividend payout ratio is presently 57.87%.
A number of hedge funds have recently added to or reduced their stakes in the business. Curi Capital acquired a new position in Kellogg during the 4th quarter valued at about $36,000. Valley Brook Capital Group acquired a new position in Kellogg during the 4th quarter valued at about $161,000. DekaBank Deutsche Girozentrale boosted its stake in Kellogg by 85.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 723,619 shares of the company's stock valued at $45,104,000 after purchasing an additional 332,700 shares during the last quarter. tru Independence LLC boosted its stake in Kellogg by 59.5% during the 4th quarter. tru Independence LLC now owns 86,870 shares of the company's stock valued at $5,406,000 after purchasing an additional 32,405 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in Kellogg by 0.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,334,981 shares of the company's stock valued at $83,075,000 after purchasing an additional 12,375 shares during the last quarter. Institutional investors and hedge funds own 86.08% of the company's stock.
Several analysts have issued reports on the company. Jefferies Financial Group dropped their price objective on Kellogg from $69.00 to $65.00 and set a "hold" rating on the stock in a research note on Tuesday, January 12th. Citigroup reduced their price target on Kellogg from $75.00 to $72.00 in a research report on Tuesday, February 16th. Piper Sandler downgraded Kellogg from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $76.00 to $66.00 in a research report on Tuesday, January 5th. Morgan Stanley reduced their price target on Kellogg from $64.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, February 12th. Finally, JPMorgan Chase & Co. reduced their price target on Kellogg from $67.00 to $58.00 in a research report on Tuesday, January 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Kellogg has a consensus rating of "Hold" and a consensus target price of $66.83.
About Kellogg
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, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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