UBS Asset Management Americas Inc. Grows Position in Kellogg (NYSE:K)


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UBS Asset Management Americas Inc. grew its stake in Kellogg (NYSE:K) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,726,093 shares of the company’s stock after acquiring an additional 47,689 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.50% of Kellogg worth $107,415,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Beutel Goodman & Co Ltd. grew its stake in Kellogg by 22.0% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,751,647 shares of the company’s stock worth $233,464,000 after acquiring an additional 677,403 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kellogg by 10.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,651,036 shares of the company’s stock worth $227,204,000 after purchasing an additional 354,082 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Kellogg by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 3,330,475 shares of the company’s stock valued at $207,255,000 after purchasing an additional 126,360 shares during the period. Bank of New York Mellon Corp increased its stake in Kellogg by 17.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,751,494 shares of the company’s stock valued at $171,225,000 after purchasing an additional 413,570 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Kellogg by 5.3% during the fourth quarter. Wells Fargo & Company MN now owns 2,423,002 shares of the company’s stock worth $150,784,000 after buying an additional 122,608 shares during the period. Institutional investors and hedge funds own 86.08% of the company’s stock.

Shares of NYSE:K opened at $63.67 on Thursday. The business’s 50-day simple moving average is $60.41 and its 200 day simple moving average is $61.92. The company has a market cap of $21.67 billion, a P/E ratio of 18.40, 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 one year low of $56.61 and a one year high of $72.88.

Kellogg (NYSE:K) last issued its quarterly earnings data on Wednesday, February 10th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.03). The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.53 billion. Kellogg had a net margin of 8.80% and a return on equity of 41.23%. Analysts predict that Kellogg will post 4.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Tuesday, March 9th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, March 1st. Kellogg’s dividend payout ratio (DPR) is 57.87%.

Several research analysts have recently weighed in on K shares. JPMorgan Chase & Co. cut their price objective on shares of Kellogg from $67.00 to $58.00 in a report on Tuesday, January 19th. Citigroup decreased their price target on shares of Kellogg from $75.00 to $72.00 in a report on Tuesday, February 16th. Jefferies Financial Group lowered their price objective on shares of Kellogg from $69.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, January 12th. Morgan Stanley cut their target price 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, Piper Sandler downgraded Kellogg from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $76.00 to $66.00 in a research report on Tuesday, January 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Kellogg presently has an average rating of “Hold” and an average target price of $66.83.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the business’s stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $57.45, for a total value of $4,787,538.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 500,001 shares of company stock valued at $29,460,060. 1.10% of the stock is currently owned by corporate insiders.

Kellogg Company Profile

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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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