Atlas Brown Inc. raised its position in shares of Kellogg Co. (NYSE:K) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,038 shares of the company’s stock after buying an additional 1 shares during the period. Atlas Brown Inc.’s holdings in Kellogg were worth $330,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. purchased a new position in shares of Kellogg during the first quarter valued at approximately $115,000. Green Square Capital LLC purchased a new position in shares of Kellogg during the second quarter valued at approximately $202,000. Fox Run Management L.L.C. purchased a new position in shares of Kellogg during the second quarter valued at approximately $204,000. Stewart & Patten Co. LLC purchased a new position in shares of Kellogg during the second quarter valued at approximately $212,000. Finally, West Oak Capital LLC increased its position in shares of Kellogg by 37.7% in the second quarter. West Oak Capital LLC now owns 2,754 shares of the company’s stock valued at $225,000 after buying an additional 754 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.
Kellogg Co. (NYSE:K) traded down 0.38% during trading on Friday, hitting $75.49. 2,295,278 shares of the company’s stock were exchanged. Kellogg Co. has a 52-week low of $64.65 and a 52-week high of $87.16. The firm has a 50 day moving average price of $78.61 and a 200 day moving average price of $78.71. The company has a market cap of $26.44 billion, a price-to-earnings ratio of 43.19 and a beta of 0.47.
Kellogg (NYSE:K) last issued its earnings results on Thursday, August 4th. The company reported $0.91 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.91. Kellogg had a net margin of 4.71% and a return on equity of 56.33%. The firm earned $3.27 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Kellogg’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts predict that Kellogg Co. will post $0.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.52 per share. This is a positive change from Kellogg’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, August 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.76%. Kellogg’s dividend payout ratio is currently 119.54%.
Several research analysts have commented on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Kellogg in a report on Saturday, August 6th. Argus reaffirmed a “hold” rating on shares of Kellogg in a report on Friday, August 5th. Citigroup Inc. dropped their price objective on shares of Kellogg from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 5th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $86.00 price objective (up from $82.00) on shares of Kellogg in a report on Friday, August 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of Kellogg from $82.00 to $86.00 and gave the stock a “sector perform” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.65.
In other Kellogg news, insider Paul T. Norman sold 95,875 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $82.63, for a total transaction of $7,922,151.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John A. Bryant sold 259,500 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $83.41, for a total transaction of $21,644,895.00. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.
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.