First National Bank of Omaha Has $263,000 Stock Position in Kellogg (NYSE:K)

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First National Bank of Omaha increased its position in shares of Kellogg (NYSE:K) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,088 shares of the company’s stock after buying an additional 275 shares during the quarter. First National Bank of Omaha’s holdings in Kellogg were worth $263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of K. Quest Capital Management Inc. ADV purchased a new stake in shares of Kellogg in the third quarter worth approximately $26,000. Coastal Investment Advisors Inc. raised its stake in shares of Kellogg by 117.4% in the second quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock worth $30,000 after purchasing an additional 304 shares during the last quarter. AGF Investments LLC raised its stake in shares of Kellogg by 39.4% in the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock worth $44,000 after purchasing an additional 234 shares during the last quarter. WealthStone Inc. bought a new position in shares of Kellogg in the second quarter valued at approximately $48,000. Finally, Capital Investment Advisory Services LLC grew its holdings in shares of Kellogg by 37.6% in the second quarter. Capital Investment Advisory Services LLC now owns 1,216 shares of the company’s stock valued at $69,000 after acquiring an additional 332 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

NYSE K opened at $63.99 on Friday. The stock’s 50-day simple moving average is $62.84 and its two-hundred day simple moving average is $59.62. Kellogg has a twelve month low of $51.34 and a twelve month high of $65.66. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 3.62 and a beta of 0.52.

Kellogg (NYSE:K) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. Kellogg had a return on equity of 42.47% and a net margin of 5.35%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts expect that Kellogg will post 3.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, November 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.56%. Kellogg’s dividend payout ratio (DPR) is currently 52.66%.

K has been the subject of several recent analyst reports. Edward Jones raised Kellogg from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upped their target price on Kellogg from $56.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Credit Suisse Group set a $60.00 target price on Kellogg and gave the company a “hold” rating in a report on Tuesday, September 10th. Royal Bank of Canada assumed coverage on Kellogg in a report on Thursday, October 17th. They set a “sector perform” rating and a $65.00 price objective for the company. Finally, Goldman Sachs Group raised Kellogg from a “neutral” rating to a “buy” rating and increased their price objective for the company from $58.00 to $72.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Kellogg currently has a consensus rating of “Hold” and an average target price of $64.24.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $63.22, for a total transaction of $6,322,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Fernanda Mejia sold 2,136 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $63.70, for a total value of $136,063.20. Following the transaction, the senior vice president now directly owns 25,721 shares in the company, valued at $1,638,427.70. The disclosure for this sale can be found here. Insiders have sold 625,291 shares of company stock worth $39,277,106 over the last ninety days. Insiders own 0.09% of the company’s stock.

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.

Further Reading: Why investors pay attention to retained earnings

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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