Kellogg (NYSE:K) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its position in shares of Kellogg (NYSE:K) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,983 shares of the company’s stock after selling 17,950 shares during the period. Gamco Investors INC. ET AL owned 0.13% of Kellogg worth $22,873,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of K. Coastal Investment Advisors Inc. lifted its position in Kellogg by 117.4% in the second quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock valued at $30,000 after acquiring an additional 304 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Kellogg in the first quarter valued at $40,000. AGF Investments LLC lifted its position in Kellogg by 39.4% in the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock valued at $44,000 after acquiring an additional 234 shares during the last quarter. Acima Private Wealth LLC lifted its position in Kellogg by 90.6% in the first quarter. Acima Private Wealth LLC now owns 852 shares of the company’s stock valued at $49,000 after acquiring an additional 405 shares during the last quarter. Finally, Farmers National Bank purchased a new stake in Kellogg in the first quarter valued at $78,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

K has been the subject of a number of research reports. TheStreet raised shares of Kellogg from a “c+” rating to a “b-” rating in a research report on Monday, August 12th. Barclays set a $62.00 price target on shares of Kellogg and gave the company a “sell” rating in a research report on Friday, August 2nd. Buckingham Research boosted their price target on shares of Kellogg from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price target for the company. in a research report on Friday, August 2nd. Finally, Guggenheim upped their target price on shares of Kellogg from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and an average target price of $63.47.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 500,000 shares of company stock valued at $28,256,000 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

Shares of NYSE:K traded up $0.11 on Monday, reaching $63.78. The company’s stock had a trading volume of 15,007 shares, compared to its average volume of 3,184,290. The stock’s 50-day moving average is $58.14 and its two-hundred day moving average is $56.93. Kellogg has a 52-week low of $51.34 and a 52-week high of $74.98. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.70 and a quick ratio of 0.46. The stock has a market capitalization of $21.66 billion, a P/E ratio of 14.75, a PEG ratio of 3.63 and a beta of 0.61.

Kellogg (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. Equities analysts forecast that Kellogg will post 3.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This is a boost from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, August 30th. Kellogg’s dividend payout ratio is currently 51.73%.

Kellogg 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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