Today, BB&T Corp decides to keep it stake in Kellogg Co. (K) to the level of $718,000

Today, BB&T Corp decides to keep it stake in Kellogg Co. (K) to the level of $718,000

BB&T Corp increased its stake in Kellogg Co. (NYSE:K) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,260 shares of the company’s stock after buying an additional 1,326 shares during the period. BB&T Corp’s holdings in Kellogg were worth $718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in K. Vanguard Group Inc. increased its position in shares of Kellogg by 2.0% in the second quarter. Vanguard Group Inc. now owns 17,833,769 shares of the company’s stock worth $1,456,127,000 after buying an additional 341,901 shares in the last quarter. Capital World Investors increased its position in shares of Kellogg by 2.4% in the second quarter. Capital World Investors now owns 8,700,000 shares of the company’s stock worth $710,355,000 after buying an additional 200,000 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Kellogg by 19.5% in the second quarter. BlackRock Fund Advisors now owns 5,969,724 shares of the company’s stock worth $487,428,000 after buying an additional 974,525 shares in the last quarter. BlackRock Group LTD increased its position in shares of Kellogg by 12.6% in the second quarter. BlackRock Group LTD now owns 2,603,813 shares of the company’s stock worth $212,601,000 after buying an additional 290,659 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its position in shares of Kellogg by 10.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,556,538 shares of the company’s stock worth $160,459,000 after buying an additional 246,616 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Shares of Kellogg Co. (NYSE:K) opened at 74.16 on Friday. Kellogg Co. has a 12 month low of $68.20 and a 12 month high of $87.16. The stock has a 50 day moving average price of $74.51 and a 200-day moving average price of $78.21. The company has a market capitalization of $26.02 billion, a PE ratio of 37.32 and a beta of 0.55.

Kellogg (NYSE:K) last released its earnings results on Tuesday, November 1st. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The business 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%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Analysts forecast that Kellogg Co. will post $3.68 EPS for the current year.

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

K has been the topic of a number of research analyst reports. 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 target 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 target on shares of Kellogg in a report on Monday, August 8th. RBC Capital Markets restated a “sector perform” rating and set a $86.00 price target (up previously from $82.00) on shares of Kellogg in a report on Friday, August 5th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Kellogg in a report on Saturday, August 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $82.33.

In other news, Vice Chairman Gary H. Pilnick sold 5,036 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $74.88, for a total transaction of $377,095.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul T. Norman sold 5,420 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was 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. Insiders own 8.80% of the company’s stock.

About Kellogg

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.

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