Parametric Portfolio Associates LLC lowered its position in Kellogg Company (NYSE:K) by 30.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 481,225 shares of the company’s stock after selling 212,893 shares during the period. Parametric Portfolio Associates LLC owned about 0.14% of Kellogg Company worth $34,942,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Independent Advisor Alliance acquired a new position in shares of Kellogg Company during the fourth quarter worth $116,000. Exane Derivatives increased its position in shares of Kellogg Company by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares in the last quarter. Security National Trust Co. increased its position in shares of Kellogg Company by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock worth $150,000 after buying an additional 139 shares in the last quarter. Enterprise Financial Services Corp increased its position in shares of Kellogg Company by 6.8% in the first quarter. Enterprise Financial Services Corp now owns 2,352 shares of the company’s stock worth $170,000 after buying an additional 149 shares in the last quarter. Finally, Alpha Windward LLC increased its position in shares of Kellogg Company by 1.5% in the first quarter. Alpha Windward LLC now owns 2,564 shares of the company’s stock worth $186,000 after buying an additional 37 shares in the last quarter. 81.55% of the stock is currently owned by institutional investors.
Shares of Kellogg Company (NYSE:K) traded up 0.22% on Thursday, reaching $72.68. The company’s stock had a trading volume of 2,218,299 shares. The company has a market cap of $25.46 billion, a P/E ratio of 32.89 and a beta of 0.53. Kellogg Company has a 52-week low of $68.67 and a 52-week high of $87.16. The company has a 50 day moving average price of $71.48 and a 200 day moving average price of $72.92.
Kellogg Company (NYSE:K) last released its quarterly earnings results on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Kellogg Company had a return on equity of 66.33% and a net margin of 5.33%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the business posted $0.97 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts anticipate that Kellogg Company will post $3.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Tuesday, May 30th. Kellogg Company’s dividend payout ratio is 106.67%.
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K has been the topic of a number of research analyst reports. TheStreet upgraded Kellogg Company from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded Kellogg Company from a “sell” rating to a “hold” rating in a report on Tuesday, January 31st. Deutsche Bank AG initiated coverage on Kellogg Company in a report on Wednesday, February 15th. They set a “hold” rating and a $79.00 price target on the stock. Susquehanna Bancshares Inc set a $78.00 price target on Kellogg Company and gave the company a “hold” rating in a report on Thursday, May 4th. Finally, Credit Suisse Group AG lowered their price target on Kellogg Company from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Kellogg Company has a consensus rating of “Hold” and a consensus target price of $81.33.
In other Kellogg Company news, Director James M. Jenness sold 70,000 shares of Kellogg Company stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.06, for a total value of $4,974,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.80% of the company’s stock.
About Kellogg Company
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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