American Financial Group Inc. Holds Position in Kellogg Co. (K)
American Financial Group Inc. held its stake in shares of Kellogg Co. (NYSE:K) during the third quarter, according to its most recent disclosure with the SEC. The firm owned 38,850 shares of the company’s stock at the end of the third quarter. American Financial Group Inc.’s holdings in Kellogg were worth $3,010,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of K. Wellington Management Group LLP purchased a new stake in shares of Kellogg during the first quarter worth approximately $11,643,000. Babson Capital Management LLC purchased a new stake in shares of Kellogg during the first quarter worth approximately $727,000. First Republic Investment Management Inc. raised its stake in shares of Kellogg by 4.5% in the first quarter. First Republic Investment Management Inc. now owns 47,011 shares of the company’s stock worth $3,598,000 after buying an additional 2,026 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Kellogg by 2.3% in the second quarter. Fulton Bank N.A. now owns 16,350 shares of the company’s stock worth $1,335,000 after buying an additional 360 shares in the last quarter. Finally, West Oak Capital LLC raised its stake 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 worth $225,000 after buying an additional 754 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
Kellogg Co. (NYSE:K) traded down 2.20% on Wednesday, reaching $72.00. The company had a trading volume of 1,854,570 shares. The company has a market capitalization of $25.27 billion, a PE ratio of 36.24 and a beta of 0.55. The company’s 50-day moving average is $74.36 and its 200-day moving average is $78.19. Kellogg Co. has a 52-week low of $68.20 and a 52-week high of $87.16.
Kellogg (NYSE:K) last announced its earnings results on Tuesday, November 1st. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.09. Kellogg had a return on equity of 61.36% and a net margin of 5.41%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $878.20 million. During the same period last year, the business posted $0.85 EPS. The company’s revenue was down 2.3% on a year-over-year basis. Equities analysts anticipate that Kellogg Co. will post $3.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.08 annualized dividend and a dividend yield of 2.89%. Kellogg’s dividend payout ratio (DPR) is currently 105.05%.
A number of brokerages have issued reports on K. Credit Suisse Group AG reissued an “outperform” rating and issued a $94.00 price target on shares of Kellogg in a report on Tuesday, August 30th. BMO Capital Markets reissued a “market perform” rating and issued a $85.00 price target on shares of Kellogg in a report on Monday, August 8th. Deutsche Bank AG reissued a “hold” rating on shares of Kellogg in a report on Saturday, August 6th. RBC Capital Markets reissued a “sector perform” rating and issued a $86.00 price target (up from $82.00) on shares of Kellogg in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. boosted their price target on Kellogg from $73.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. Kellogg presently has an average rating of “Hold” and a consensus price target of $82.33.
In related news, Vice Chairman Gary H. Pilnick sold 5,036 shares of Kellogg stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $74.88, for a total value of $377,095.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ronald L. Dissinger sold 5,843 shares of Kellogg stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $74.88, for a total value of $437,523.84. The disclosure for this sale can be found here. 8.80% of the stock is owned by company 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.
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