AT Bancorp continued to hold its position in Kellogg Company (NYSE:K) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,408 shares of the company’s stock at the end of the second quarter. AT Bancorp’s holdings in Kellogg were worth $306,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the company. Washington Trust Bank boosted its stake in shares of Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after buying an additional 15 shares during the last quarter. Exane Derivatives boosted 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 during the last quarter. Pathstone Family Office LLC bought a new stake in Kellogg during the first quarter worth about $143,000. Security National Trust Co. boosted its stake in 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. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in 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. 83.05% of the stock is owned by institutional investors.
Kellogg Company (K) opened at 69.95 on Friday. Kellogg Company has a one year low of $65.32 and a one year high of $83.65. The firm has a market capitalization of $24.14 billion, a P/E ratio of 31.67 and a beta of 0.50. The company has a 50-day moving average price of $67.92 and a 200-day moving average price of $71.45.
Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. On average, equities research analysts anticipate that Kellogg Company will post $3.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.54 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s dividend payout ratio is 94.12%.
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Several research analysts have recently commented on K shares. Zacks Investment Research lowered Kellogg from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Susquehanna Bancshares Inc set a $78.00 price target on Kellogg and gave the stock a “hold” rating in a report on Thursday, May 4th. Piper Jaffray Companies set a $78.00 price objective on shares of Kellogg and gave the company a “buy” rating in a report on Monday, August 7th. Credit Suisse Group reduced their price objective on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Finally, 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, July 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Kellogg currently has a consensus rating of “Hold” and a consensus target price of $74.50.
In related news, Director John T. Dillon sold 4,900 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total transaction of $352,163.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. 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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