Wilkins Investment Counsel Inc. held its stake in Kellogg Company (NYSE:K) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,567 shares of the company’s stock at the close of the second quarter. Wilkins Investment Counsel Inc.’s holdings in Kellogg were worth $456,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Washington Trust Bank raised its holdings in shares of Kellogg by 0.8% during the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after acquiring an additional 15 shares during the period. Pathstone Family Office LLC bought a new position in shares of Kellogg in the 1st quarter valued at about $143,000. Exane Derivatives boosted its holdings in shares of Kellogg by 24.2% during the 2nd quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after buying an additional 448 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Kellogg by 1.4% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock valued at $161,000 after purchasing an additional 31 shares during the period. Finally, CWM LLC boosted its holdings in Kellogg by 5.3% in the 2nd quarter. CWM LLC now owns 2,343 shares of the company’s stock valued at $163,000 after purchasing an additional 117 shares during the period. 85.40% of the stock is currently owned by institutional investors.
Shares of Kellogg Company (NYSE K) opened at 63.36 on Friday. The stock has a 50 day moving average of $68.36 and a 200-day moving average of $70.41. Kellogg Company has a 1-year low of $63.11 and a 1-year high of $78.40. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 28.68 and a beta of 0.49.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. Analysts forecast that Kellogg Company will post $3.97 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.54 per share. This is a boost from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, August 30th. Kellogg’s dividend payout ratio (DPR) is currently 97.74%.
Several equities analysts have recently commented on the stock. BidaskClub cut shares of Kellogg from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Morgan Stanley restated an “equal weight” rating and issued a $69.00 target price (down from $74.00) on shares of Kellogg in a research report on Tuesday, July 18th. Sanford C. Bernstein set a $62.00 price objective on shares of Kellogg and gave the stock a “sell” rating in a research report on Tuesday, June 27th. BMO Capital Markets reiterated a “hold” rating and set a $78.00 price objective on shares of Kellogg in a research report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research report on Monday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Kellogg currently has a consensus rating of “Hold” and a consensus price target of $74.50.
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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