Fmr LLC Sells 307,831 Shares of Kellogg Company (K)
Fmr LLC decreased its stake in shares of Kellogg Company (NYSE:K) by 31.0% during the fourth quarter, Holdings Channel reports. The fund owned 686,157 shares of the company’s stock after selling 307,831 shares during the period. Fmr LLC’s holdings in Kellogg Company were worth $50,576,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in K. Country Trust Bank raised its stake in shares of Kellogg Company by 12.9% in the third quarter. Country Trust Bank now owns 1,312 shares of the company’s stock worth $102,000 after buying an additional 150 shares during the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in shares of Kellogg Company by 10.6% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 1,570 shares of the company’s stock worth $122,000 after buying an additional 150 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Kellogg Company by 0.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,204 shares of the company’s stock worth $171,000 after buying an additional 15 shares during the last quarter. Physicians Financial Services Inc. raised its stake in shares of Kellogg Company by 171.7% in the third quarter. Physicians Financial Services Inc. now owns 2,532 shares of the company’s stock worth $196,000 after buying an additional 1,600 shares during the last quarter. Finally, Hancock Holding Co. acquired a new stake in shares of Kellogg Company during the third quarter worth $200,000. Institutional investors and hedge funds own 81.55% of the company’s stock.
Kellogg Company (NYSE:K) opened at 74.98 on Tuesday. The company has a 50 day moving average of $74.22 and a 200 day moving average of $74.70. Kellogg Company has a 52 week low of $70.74 and a 52 week high of $87.16. The stock has a market capitalization of $26.33 billion, a P/E ratio of 38.26 and a beta of 0.53.
Kellogg Company (NYSE:K) last released its earnings results on Thursday, February 9th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.07. The company earned $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Kellogg Company had a net margin of 5.33% and a return on equity of 66.33%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts expect that Kellogg Company will post $3.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, February 27th. Kellogg Company’s dividend payout ratio (DPR) is currently 106.67%.
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A number of brokerages have recently weighed in on K. Sanford C. Bernstein began coverage on shares of Kellogg Company in a report on Tuesday. They issued an “underperform” rating for the company. TheStreet lowered shares of Kellogg Company from a “b” rating to a “c+” rating in a report on Thursday, February 9th. Royal Bank of Canada boosted their price objective on shares of Kellogg Company from $84.00 to $87.00 and gave the stock a “sector perform” rating in a report on Friday, February 10th. Zacks Investment Research upgraded shares of Kellogg Company from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. Finally, Credit Suisse Group AG lowered shares of Kellogg Company from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $84.00 to $77.00 in a report on Wednesday, December 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $82.30.
Kellogg Company 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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