Twin Tree Management LP lifted its position in shares of Kellogg Company (NYSE:K) by 169.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,795 shares of the company’s stock after acquiring an additional 2,386 shares during the period. Twin Tree Management LP’s holdings in Kellogg were worth $264,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of K. Washington Trust Bank increased its position in Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after buying an additional 15 shares during the period. Pathstone Family Office LLC acquired a new stake in Kellogg in the first quarter worth $143,000. Exane Derivatives increased its position in Kellogg by 24.2% in the second 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. increased its position in Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares during the period. Finally, CWM LLC increased its position in Kellogg by 5.3% in the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after buying an additional 117 shares during the period. 85.42% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $78.00 target price on shares of Kellogg in a research report on Wednesday, September 6th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $74.00 target price (up from $71.00) on shares of Kellogg in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $78.00 target price on Kellogg and gave the stock a “buy” rating in a research report on Monday, August 7th. Royal Bank Of Canada increased their target price on Kellogg from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research lowered Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Kellogg has a consensus rating of “Hold” and an average target price of $74.50.
Kellogg Company (NYSE:K) traded up 0.643% on Friday, hitting $68.055. The stock had a trading volume of 873,439 shares. The firm has a market cap of $23.49 billion, a P/E ratio of 30.808 and a beta of 0.49. The firm’s 50-day moving average price is $68.37 and its 200-day moving average price is $70.61. Kellogg Company has a 1-year low of $65.06 and a 1-year high of $78.69.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts predict that Kellogg Company will post $3.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.54 dividend. This is an increase from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $2.16 annualized dividend and a yield of 3.20%. Kellogg’s payout ratio is presently 97.74%.
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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