State Farm Mutual Automobile Insurance Co. maintained its stake in shares of Kellogg Company (NYSE:K) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,382,600 shares of the company’s stock at the end of the second quarter. State Farm Mutual Automobile Insurance Co. owned about 1.82% of Kellogg worth $443,336,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Alpha Windward LLC boosted its stake in shares of Kellogg by 0.4% during the 2nd quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after acquiring an additional 11 shares in the last quarter. Altfest L J & Co. Inc. lifted its stake in Kellogg by 0.5% in the 1st quarter. Altfest L J & Co. Inc. now owns 2,891 shares of the company’s stock valued at $210,000 after buying an additional 14 shares in the last quarter. 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 buying an additional 15 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Kellogg by 0.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 6,813 shares of the company’s stock valued at $495,000 after buying an additional 21 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake 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 buying an additional 31 shares in the last quarter. 85.40% of the stock is currently owned by institutional investors.
Kellogg Company (K) opened at 63.36 on Friday. The company’s 50 day moving average is $68.36 and its 200-day moving average is $70.41. Kellogg Company has a 1-year low of $63.11 and a 1-year high of $78.40. The firm has a market cap of $21.87 billion, a price-to-earnings ratio of 28.68 and a beta of 0.49.
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 net margin of 6.12% and a return on equity of 70.22%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that Kellogg Company will post $3.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.54 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.41%. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s payout ratio is currently 97.74%.
A number of research firms have recently commented on K. Piper Jaffray Companies set a $78.00 price objective on Kellogg and gave the stock a “buy” rating in a report on Monday, August 7th. Morgan Stanley restated an “equal weight” rating and set a $69.00 price objective (down from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Susquehanna Bancshares Inc set a $78.00 price objective on Kellogg and gave the stock a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a report on Monday, June 12th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $85.00 price target on shares of Kellogg in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $74.50.
COPYRIGHT VIOLATION NOTICE: “State Farm Mutual Automobile Insurance Co. Has $443,336,000 Stake in Kellogg Company (NYSE:K)” was originally published by BBNS and is the sole property of of BBNS. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://baseballnewssource.com/markets/state-farm-mutual-automobile-insurance-co-maintains-position-in-kellogg-company-k/1603912.html.
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.
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with our FREE daily email newsletter.