Today, Bank of New York Mellon Corp Reached $376,538,000 position of Kellogg Co. (K)

Today, Bank of New York Mellon Corp Reached $376,538,000 position  of Kellogg Co. (K)
Bank of New York Mellon Corp raised its stake in shares of Kellogg Co. (NYSE:K) by 44.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,860,431 shares of the company’s stock after buying an additional 1,501,425 shares during the period. Bank of New York Mellon Corp owned about 1.39% of Kellogg worth $376,538,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in K. Investors Capital Advisory Services increased its position in shares of Kellogg by 0.5% in the second quarter. Investors Capital Advisory Services now owns 3,068 shares of the company’s stock valued at $250,000 after buying an additional 16 shares during the period. Brighton Jones LLC increased its position in Kellogg by 0.6% in the third quarter. Brighton Jones LLC now owns 3,593 shares of the company’s stock valued at $278,000 after buying an additional 23 shares during the last quarter. Northeast Investment Management increased its position in Kellogg by 0.7% in the second quarter. Northeast Investment Management now owns 3,769 shares of the company’s stock valued at $308,000 after buying an additional 27 shares during the last quarter. Trust Co. of Toledo NA OH increased its position in Kellogg by 0.5% in the second quarter. Trust Co. of Toledo NA OH now owns 5,869 shares of the company’s stock valued at $479,000 after buying an additional 28 shares during the last quarter. Finally, Washington Trust Bank increased its position in Kellogg by 1.9% in the third quarter. Washington Trust Bank now owns 1,799 shares of the company’s stock valued at $139,000 after buying an additional 34 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Shares of Kellogg Co. (NYSE:K) traded up 1.05% during trading on Friday, hitting $74.16. 497,277 shares of the stock were exchanged. The firm has a market capitalization of $26.02 billion, a P/E ratio of 37.32 and a beta of 0.55. Kellogg Co. has a 52 week low of $68.20 and a 52 week high of $87.16. The firm has a 50 day moving average price of $74.61 and a 200 day moving average price of $78.22.

Kellogg (NYSE:K) last posted its earnings results on Tuesday, November 1st. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The company earned $3.25 billion during the quarter, compared to analysts’ expectations of $878.20 million. Kellogg had a net margin of 5.41% and a return on equity of 61.36%. Kellogg’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. Analysts forecast that Kellogg Co. will post $3.68 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Tuesday, November 29th. Kellogg’s dividend payout ratio is 105.05%.

Several research analysts have recently issued reports on K shares. Argus restated a “hold” rating on shares of Kellogg in a report on Friday, August 5th. Credit Suisse Group AG restated an “outperform” rating and set a $94.00 price objective on shares of Kellogg in a report on Tuesday, August 30th. BMO Capital Markets restated a “market perform” rating and set a $85.00 price objective on shares of Kellogg in a report on Monday, August 8th. RBC Capital Markets reissued a “sector perform” rating and issued a $86.00 target price (up previously from $82.00) on shares of Kellogg in a research note on Friday, August 5th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Kellogg in a research note on Saturday, August 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $82.33.

In other Kellogg news, Vice Chairman Gary H. Pilnick sold 5,036 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $74.88, for a total value of $377,095.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul T. Norman sold 5,420 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $74.89, for a total transaction of $405,903.80. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.

Kellogg Company Profile

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