Strategic Wealth Advisors Group LLC Reduces Stock Position in Kellogg (NYSE:K)

Strategic Wealth Advisors Group LLC reduced its position in shares of Kellogg (NYSE:K) by 37.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,069 shares of the company’s stock after selling 6,067 shares during the period. Strategic Wealth Advisors Group LLC’s holdings in Kellogg were worth $639,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Kellogg by 12.7% in the second quarter. Renaissance Technologies LLC now owns 5,523,983 shares of the company’s stock worth $295,920,000 after buying an additional 623,700 shares in the last quarter. Beutel Goodman & Co Ltd. raised its stake in Kellogg by 1.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 3,943,373 shares of the company’s stock worth $161,307,000 after buying an additional 48,795 shares in the last quarter. Invesco Ltd. raised its stake in Kellogg by 9.5% in the second quarter. Invesco Ltd. now owns 3,015,800 shares of the company’s stock worth $161,557,000 after buying an additional 262,198 shares in the last quarter. California Public Employees Retirement System raised its stake in Kellogg by 3.0% in the third quarter. California Public Employees Retirement System now owns 2,049,665 shares of the company’s stock worth $131,896,000 after buying an additional 59,742 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Kellogg by 31.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,978,156 shares of the company’s stock worth $105,970,000 after buying an additional 472,686 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

K has been the subject of a number of research reports. Argus increased their price target on shares of Kellogg from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI initiated coverage on shares of Kellogg in a research note on Thursday, October 24th. They issued an “in-line” rating and a $67.00 price target for the company. Zacks Investment Research downgraded shares of Kellogg from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a research note on Tuesday, October 1st. TheStreet raised shares of Kellogg from a “c+” rating to a “b-” rating in a research note on Monday, August 12th. Finally, Edward Jones raised shares of Kellogg from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $64.24.

Shares of NYSE K traded up $0.26 on Friday, reaching $63.99. 1,336,724 shares of the company’s stock traded hands, compared to its average volume of 2,415,646. Kellogg has a 12 month low of $51.34 and a 12 month high of $65.66. The business’s 50 day simple moving average is $62.84 and its two-hundred day simple moving average is $59.62. The company has a market cap of $21.67 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 3.62 and a beta of 0.52. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 2.45.

Kellogg (NYSE:K) last announced its earnings results on Tuesday, October 29th. The company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts forecast that Kellogg will post 3.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Friday, November 29th. Kellogg’s dividend payout ratio is 52.66%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $61.51, for a total transaction of $6,151,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary H. Pilnick sold 20,655 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $63.73, for a total transaction of $1,316,343.15. The disclosure for this sale can be found here. Insiders have sold 625,291 shares of company stock valued at $39,277,106 in the last ninety days. 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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