American National Insurance Co. TX continued to hold its stake in shares of Kellogg Company (NYSE:K) during the second quarter, Holdings Channel reports. The fund owned 36,620 shares of the company’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in Kellogg were worth $2,544,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Exane Derivatives raised its stake in shares of Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares in the last quarter. Pathstone Family Office LLC bought a new stake in shares of Kellogg during the first quarter worth about $143,000. Security National Trust Co. raised its stake in shares of Kellogg by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock worth $150,000 after buying an additional 139 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares in the last quarter. Finally, Enterprise Financial Services Corp raised its stake in shares of Kellogg by 6.8% in the first quarter. Enterprise Financial Services Corp now owns 2,352 shares of the company’s stock worth $170,000 after buying an additional 149 shares in the last quarter. 83.30% of the stock is owned by hedge funds and other institutional investors.
Kellogg Company (NYSE:K) opened at 66.35 on Thursday. Kellogg Company has a one year low of $65.32 and a one year high of $84.28. The company has a market capitalization of $23.24 billion, a P/E ratio of 30.02 and a beta of 0.50. The firm has a 50-day moving average of $69.91 and a 200-day moving average of $72.03.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.05. Kellogg had a return on equity of 67.99% and a net margin of 6.07%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the business posted $0.97 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts anticipate that Kellogg Company will post $3.92 earnings per share for the current year.
Several analysts recently weighed in on the company. TheStreet upgraded Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Morgan Stanley restated an “equal weight” rating and issued a $69.00 price objective (down from $74.00) on shares of Kellogg in a report on Tuesday. Susquehanna Bancshares Inc set a $78.00 price objective on Kellogg and gave the company a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a report on Monday, June 12th. Finally, Credit Suisse Group decreased their price objective on Kellogg from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Kellogg presently has an average rating of “Hold” and an average price target of $77.82.
In other Kellogg news, Director John T. Dillon sold 4,900 shares of Kellogg stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total transaction of $352,163.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James M. Jenness sold 70,000 shares of Kellogg stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $71.06, for a total value of $4,974,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 99,900 shares of company stock worth $7,178,363 in the last three months. Corporate insiders own 1.30% of the company’s stock.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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