Bellecapital International Ltd. Decreases Stock Holdings in Kellogg (NYSE:K)

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Bellecapital International Ltd. cut its position in shares of Kellogg (NYSE:K) by 27.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,761 shares of the company’s stock after selling 4,481 shares during the quarter. Bellecapital International Ltd.’s holdings in Kellogg were worth $630,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in K. Penserra Capital Management LLC bought a new position in Kellogg during the 1st quarter worth approximately $40,000. Acima Private Wealth LLC lifted its holdings in Kellogg by 90.6% in the 1st quarter. Acima Private Wealth LLC now owns 852 shares of the company’s stock worth $49,000 after buying an additional 405 shares during the period. Farmers National Bank purchased a new position in shares of Kellogg in the 1st quarter valued at approximately $78,000. Nelson Roberts Investment Advisors LLC lifted its stake in shares of Kellogg by 102.3% in the 1st quarter. Nelson Roberts Investment Advisors LLC now owns 1,416 shares of the company’s stock valued at $81,000 after purchasing an additional 716 shares during the period. Finally, American National Bank purchased a new position in shares of Kellogg in the 1st quarter valued at approximately $83,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

NYSE:K opened at $63.52 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 2.67. The company has a market capitalization of $20.96 billion, a P/E ratio of 14.67, a P/E/G ratio of 3.52 and a beta of 0.61. Kellogg has a 12 month low of $51.34 and a 12 month high of $74.98. The business’s 50-day moving average is $57.93 and its 200 day moving average is $56.89.

Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts forecast that Kellogg will post 3.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This is a boost from Kellogg’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.59%. Kellogg’s dividend payout ratio is currently 51.73%.

A number of research analysts recently weighed in on K shares. Morgan Stanley raised their price objective on Kellogg from $56.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Canaccord Genuity reissued an “average” rating on shares of Kellogg in a report on Tuesday, June 25th. Consumer Edge lowered Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 target price for the company. in a report on Monday, June 24th. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price objective for the company. in a report on Friday, August 2nd. Finally, ValuEngine raised Kellogg from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Kellogg currently has a consensus rating of “Hold” and an average target price of $63.47.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $61.51, for a total transaction of $6,151,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 600,000 shares of company stock worth $33,914,000. Insiders own 0.09% of the company’s stock.

Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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