Janney Montgomery Scott LLC lowered its stake in shares of Kellogg Company (NYSE:K) by 10.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,407 shares of the company’s stock after selling 2,835 shares during the period. Janney Montgomery Scott LLC’s holdings in Kellogg were worth $1,695,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Washington Trust Bank increased its stake in Kellogg by 0.8% in the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after buying an additional 15 shares in the last quarter. Exane Derivatives increased its stake in Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock valued at $134,000 after buying an additional 1,403 shares in the last quarter. Pathstone Family Office LLC purchased a new stake in Kellogg during the first quarter valued at approximately $143,000. Security National Trust Co. increased 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 valued at $150,000 after buying an additional 139 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased 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 valued at $161,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.
Shares of Kellogg Company (NYSE:K) traded down 0.21% on Friday, reaching $69.95. The company’s stock had a trading volume of 1,975,934 shares. The stock has a 50-day moving average of $67.92 and a 200 day moving average of $71.45. Kellogg Company has a 52-week low of $65.32 and a 52-week high of $83.65. The company has a market cap of $24.14 billion, a price-to-earnings ratio of 31.67 and a beta of 0.50.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Kellogg’s revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Kellogg Company will post $3.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.09%. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s payout ratio is presently 94.12%.
COPYRIGHT VIOLATION WARNING: “Kellogg Company (K) Shares Sold by Janney Montgomery Scott LLC” was published by BNB Daily and is owned by of BNB Daily. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/kellogg-company-k-shares-sold-by-janney-montgomery-scott-llc-updated.html.
Several research firms have recently commented on K. UBS AG decreased their price objective on Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Royal Bank Of Canada decreased their price objective on Kellogg from $81.00 to $79.00 and set a “sector perform” rating for the company in a report on Tuesday, August 1st. Piper Jaffray Companies set a $78.00 price objective on Kellogg and gave the company a “buy” rating in a report on Monday, August 7th. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $76.00 to $78.00 in a report on Friday, August 4th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $74.00 price target (up previously from $71.00) on shares of Kellogg in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $74.50.
In related news, Director John T. Dillon sold 4,900 shares of Kellogg stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were 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. Insiders own 1.30% of the company’s stock.
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.
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with MarketBeat.com's FREE daily email newsletter.