Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Kellogg Co. (NYSE:K) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 6,918 shares of the company’s stock after selling 497 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Kellogg were worth $565,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH boosted its stake in shares of Kellogg by 0.5% in the second quarter. Trust Co. of Toledo NA OH now owns 5,869 shares of the company’s stock worth $479,000 after buying an additional 28 shares during the last quarter. Shufro Rose & Co. LLC boosted its stake in shares of Kellogg by 3.6% in the first quarter. Shufro Rose & Co. LLC now owns 2,880 shares of the company’s stock worth $220,000 after buying an additional 100 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Kellogg by 0.6% in the second quarter. Cullen Frost Bankers Inc. now owns 21,895 shares of the company’s stock worth $1,788,000 after buying an additional 127 shares during the last quarter. Advisor Partners LLC boosted its stake in shares of Kellogg by 5.8% in the first quarter. Advisor Partners LLC now owns 3,022 shares of the company’s stock worth $231,000 after buying an additional 166 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Kellogg by 0.8% in the second quarter. Gateway Investment Advisers LLC now owns 24,674 shares of the company’s stock worth $2,015,000 after buying an additional 184 shares during the last quarter. Institutional investors own 81.75% of the company’s stock.
Kellogg Co. (NYSE:K) traded up 0.49% on Friday, reaching $76.34. The company’s stock had a trading volume of 2,190,804 shares. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 43.67 and a beta of 0.47. Kellogg Co. has a 52 week low of $64.65 and a 52 week high of $87.16. The company has a 50 day moving average of $79.37 and a 200 day moving average of $78.70.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.91 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91. Kellogg had a return on equity of 56.33% and a net margin of 4.71%. The company earned $3.27 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same period in the previous year, the business earned $0.92 EPS. Kellogg’s quarterly revenue was down 6.6% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Thursday, September 1st were issued a dividend of $0.52 per share. This is a boost from Kellogg’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Tuesday, August 30th. Kellogg’s payout ratio is currently 119.54%.
A number of research firms have recently weighed in on K. Deutsche Bank AG reaffirmed a “hold” rating on shares of Kellogg in a research note on Saturday, August 6th. JPMorgan Chase & Co. upped their price objective on Kellogg from $73.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $86.00 price objective (up previously from $82.00) on shares of Kellogg in a research note on Friday, August 5th. Susquehanna reissued a “hold” rating on shares of Kellogg in a research note on Wednesday, August 3rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $85.00 price target on shares of Kellogg in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $81.65.
In other news, insider Paul T. Norman sold 95,875 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $82.63, for a total transaction of $7,922,151.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John T. Dillon sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $82.66, for a total value of $247,980.00. The disclosure for this sale can be found here. 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.