Rathbone Brothers plc decreased its position in Kellogg Company (NYSE:K) by 1.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,435 shares of the company’s stock after selling 390 shares during the period. Rathbone Brothers plc’s holdings in Kellogg were worth $1,419,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Bank lifted its stake in Kellogg by 0.8% in the 2nd quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after acquiring an additional 15 shares in the last quarter. Pathstone Family Office LLC acquired a new position in shares of Kellogg during the 1st quarter worth approximately $143,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Kellogg by 1.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after purchasing an additional 31 shares during the last quarter. Exane Derivatives increased its position 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 purchasing an additional 448 shares during the last quarter. Finally, CWM LLC increased its position in shares of Kellogg by 5.3% during the 2nd quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 85.40% of the company’s stock.
Kellogg Company (NYSE:K) opened at 63.36 on Friday. Kellogg Company has a 12-month low of $63.11 and a 12-month high of $78.40. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 28.68 and a beta of 0.49. The company’s 50 day moving average price is $68.36 and its 200-day moving average price is $70.41.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. Kellogg’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. On average, equities analysts anticipate that Kellogg Company will post $3.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.54 per share. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Wednesday, August 30th. Kellogg’s dividend payout ratio (DPR) is 97.74%.
K has been the topic of several recent analyst reports. Zacks Investment Research lowered Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the stock a “buy” rating in a research report on Monday, August 7th. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 price target on shares of Kellogg in a research report on Wednesday, September 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $69.00 price target (down previously from $74.00) on shares of Kellogg in a research report on Tuesday, July 18th. Finally, BidaskClub lowered Kellogg from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Kellogg currently has an average rating of “Hold” and an average target price of $74.50.
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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