Wealth Enhancement Advisory Services LLC boosted its position in Kellogg Co. (NYSE:K) by 12.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,467 shares of the company’s stock after buying an additional 2,711 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Kellogg were worth $1,998,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of K. NN Investment Partners Holdings N.V. bought a new position in Kellogg during the first quarter valued at $115,000. Enterprise Financial Services Corp increased its position in Kellogg by 415.9% in the second quarter. Enterprise Financial Services Corp now owns 2,461 shares of the company’s stock valued at $201,000 after buying an additional 1,984 shares during the period. Green Square Capital LLC bought a new position in Kellogg during the second quarter valued at $202,000. Fox Run Management L.L.C. bought a new position in Kellogg during the second quarter valued at $204,000. Finally, Stewart & Patten Co. LLC bought a new position in Kellogg during the second quarter valued at $212,000. Institutional investors and hedge funds own 81.73% of the company’s stock.
Shares of Kellogg Co. (NYSE:K) traded down 0.28% during midday trading on Monday, hitting $75.28. 787,901 shares of the stock were exchanged. Kellogg Co. has a 12-month low of $64.65 and a 12-month high of $87.16. The firm has a 50 day moving average of $78.40 and a 200 day moving average of $78.71. The firm has a market cap of $26.37 billion, a P/E ratio of 43.07 and a beta of 0.47.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.91 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.91. The business earned $3.27 billion during the quarter, compared to analyst estimates of $3.37 billion. Kellogg had a net margin of 4.71% and a return on equity of 56.33%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. Equities analysts forecast that Kellogg Co. will post $0.11 EPS for the current fiscal year.
A number of analysts have commented on the stock. Credit Suisse Group AG reiterated an “outperform” rating and issued a $94.00 price objective on shares of Kellogg in a report on Tuesday, September 27th. Morgan Stanley reissued a “hold” rating and issued a $79.00 price target on shares of Kellogg in a research note on Thursday, September 1st. Deutsche Bank AG increased their price target on shares of Kellogg from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Susquehanna reissued a “hold” rating on shares of Kellogg in a research note on Wednesday, September 7th. Finally, Citigroup Inc. dropped their price target on shares of Kellogg from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $81.65.
In other Kellogg news, Chairman John A. Bryant sold 259,500 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gary H. Pilnick sold 57,870 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $83.36, for a total transaction of $4,824,043.20. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by insiders.
Kellogg Company Profile
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.