BlueCrest Capital Management Ltd purchased a new position in Kellogg Company (NYSE:K) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,407 shares of the company’s stock, valued at approximately $4,404,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Research Global Investors boosted its position in shares of Kellogg by 54.7% during the second quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock worth $1,669,244,000 after acquiring an additional 8,495,714 shares during the last quarter. Vanguard Group Inc. raised its stake in Kellogg by 0.3% during the second quarter. Vanguard Group Inc. now owns 20,330,268 shares of the company’s stock valued at $1,412,139,000 after purchasing an additional 56,284 shares in the last quarter. BlackRock Inc. raised its stake in Kellogg by 2,851.0% during the first quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock valued at $1,464,385,000 after purchasing an additional 19,484,390 shares in the last quarter. State Street Corp raised its stake in Kellogg by 1.4% during the first quarter. State Street Corp now owns 11,534,453 shares of the company’s stock valued at $837,528,000 after purchasing an additional 154,732 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Kellogg by 94.3% during the second 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 in the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.
Shares of Kellogg Company (NYSE K) traded down 0.16% during trading on Wednesday, reaching $61.64. The company had a trading volume of 324,156 shares. The company has a market capitalization of $21.27 billion, a P/E ratio of 27.90 and a beta of 0.48. The firm has a 50-day moving average price of $64.83 and a 200-day moving average price of $68.95. Kellogg Company has a 52-week low of $61.03 and a 52-week high of $78.37.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. On average, analysts predict that Kellogg Company will post $3.98 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on the stock. UBS AG reissued a “neutral” rating and issued a $72.00 target price (down previously from $76.00) on shares of Kellogg in a research note on Tuesday, July 18th. BMO Capital Markets cut their price target on shares of Kellogg from $85.00 to $78.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. Royal Bank Of Canada cut their price target on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 1st. Morgan Stanley dropped their target price on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a report on Friday, October 13th. Finally, Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Kellogg in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $73.45.
Kellogg Company 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.
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