Metropolitan Life Insurance Co NY trimmed its holdings in shares of Kellogg (NYSE:K) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,572 shares of the company’s stock after selling 1,406 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Kellogg were worth $2,675,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Kellogg by 42.0% during the 3rd quarter. Millennium Management LLC now owns 690,666 shares of the company’s stock valued at $44,444,000 after buying an additional 204,269 shares in the last quarter. Man Group plc raised its stake in Kellogg by 93.7% during the 3rd quarter. Man Group plc now owns 419,248 shares of the company’s stock worth $26,979,000 after acquiring an additional 202,807 shares during the period. Worldquant Millennium Advisors LLC raised its stake in Kellogg by 1.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 220,638 shares of the company’s stock worth $14,198,000 after acquiring an additional 4,215 shares during the period. National Pension Service lifted its holdings in Kellogg by 5.5% during the third quarter. National Pension Service now owns 336,912 shares of the company’s stock valued at $21,680,000 after purchasing an additional 17,436 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Kellogg by 1.1% during the third quarter. Public Employees Retirement System of Ohio now owns 86,335 shares of the company’s stock valued at $5,556,000 after purchasing an additional 977 shares in the last quarter. Institutional investors own 86.95% of the company’s stock.
Shares of NYSE K opened at $65.42 on Tuesday. The company has a market cap of $22.21 billion, a P/E ratio of 15.11, a P/E/G ratio of 3.72 and a beta of 0.52. Kellogg has a 52-week low of $51.34 and a 52-week high of $65.94. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.52 and a current ratio of 0.80. The firm’s fifty day moving average is $63.58 and its two-hundred day moving average is $60.38.
Kellogg (NYSE:K) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.91 by $0.12. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, analysts forecast that Kellogg will post 3.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, November 29th. Kellogg’s payout ratio is presently 52.66%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $65.19, for a total value of $6,519,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Alistair D. Hirst sold 2,500 shares of Kellogg stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $63.88, for a total transaction of $159,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 625,291 shares of company stock valued at $39,662,106 in the last 90 days. 0.09% of the stock is currently owned by company insiders.
K has been the topic of several recent analyst reports. Goldman Sachs Group upgraded shares of Kellogg from a “neutral” rating to a “buy” rating and raised their price objective for the company from $58.00 to $72.00 in a research report on Friday, September 6th. Barclays cut shares of Kellogg to an “equal weight” rating in a research note on Tuesday, October 15th. TheStreet upgraded shares of Kellogg from a “c+” rating to a “b-” rating in a research note on Monday, August 12th. Royal Bank of Canada initiated coverage on shares of Kellogg in a report on Thursday, October 17th. They issued a “sector perform” rating and a $65.00 target price for the company. Finally, Buckingham Research raised their price target on Kellogg from $67.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and a consensus target price of $63.20.
Kellogg Company Profile
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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