Kellogg (K) CFO Buys $508,926.60 in Stock

Kellogg (NYSE:K) CFO Fareed A. Khan purchased 8,190 shares of Kellogg stock in a transaction dated Tuesday, November 20th. The stock was bought at an average price of $62.14 per share, with a total value of $508,926.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Kellogg stock opened at $61.89 on Friday. The firm has a market cap of $21.48 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The company has a current ratio of 0.84, a quick ratio of 0.52 and a debt-to-equity ratio of 2.41. Kellogg has a 52-week low of $56.40 and a 52-week high of $74.98.

Kellogg (NYSE:K) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.07 by ($0.01). Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the firm earned $1.03 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Kellogg will post 4.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Friday, November 30th. Kellogg’s dividend payout ratio (DPR) is 55.45%.

K has been the subject of several recent research reports. Wells Fargo & Co restated a “hold” rating and set a $67.00 target price (up from $62.00) on shares of Kellogg in a research report on Sunday, August 5th. Credit Suisse Group boosted their target price on shares of Kellogg from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Buckingham Research boosted their target price on shares of Kellogg from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research lowered shares of Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, Argus cut their target price on shares of Kellogg from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $70.22.

A number of hedge funds have recently bought and sold shares of K. Honkamp Krueger Financial Services Inc. bought a new position in shares of Kellogg in the third quarter worth about $101,000. LFA Lugano Financial Advisors SA bought a new position in shares of Kellogg in the second quarter worth about $103,000. Integrated Investment Consultants LLC bought a new position in shares of Kellogg in the second quarter worth about $110,000. Financial Architects Inc bought a new position in shares of Kellogg in the third quarter worth about $111,000. Finally, Captrust Financial Advisors grew its holdings in shares of Kellogg by 216.4% in the third quarter. Captrust Financial Advisors now owns 1,585 shares of the company’s stock worth $111,000 after purchasing an additional 1,084 shares during the last quarter. Institutional investors and hedge funds own 86.92% of the company’s stock.

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About Kellogg

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

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