NN Investment Partners Holdings N.V. trimmed its holdings in shares of Kellogg (NYSE:K) by 26.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 380,519 shares of the company’s stock after selling 137,241 shares during the period. NN Investment Partners Holdings N.V. owned 0.11% of Kellogg worth $26,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. LFA Lugano Financial Advisors SA acquired a new stake in shares of Kellogg during the second quarter worth about $103,000. CSat Investment Advisory L.P. acquired a new stake in shares of Kellogg during the second quarter worth about $127,000. Fort L.P. acquired a new stake in shares of Kellogg during the second quarter worth about $127,000. Kiley Juergens Wealth Management LLC increased its position in shares of Kellogg by 57.7% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,127 shares of the company’s stock worth $148,000 after purchasing an additional 778 shares in the last quarter. Finally, ELM Advisors LLC acquired a new stake in shares of Kellogg during the third quarter worth about $172,000. 88.98% of the stock is owned by institutional investors.
In other news, Vice Chairman Gary H. Pilnick sold 66,655 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $72.25, for a total transaction of $4,815,823.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 215,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $74.61, for a total value of $16,041,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 636,655 shares of company stock worth $45,829,574 in the last quarter. 1.40% of the stock is currently owned by insiders.
Kellogg (NYSE:K) last released its earnings results on Thursday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Kellogg had a return on equity of 59.68% and a net margin of 13.33%. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Kellogg will post 4.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, November 30th. Kellogg’s payout ratio is 55.45%.
Several brokerages recently issued reports on K. Buckingham Research boosted their price target on Kellogg from $76.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Morgan Stanley began coverage on Kellogg in a research report on Monday, September 17th. They issued an “equal weight” rating and a $75.00 price target on the stock. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Credit Suisse Group boosted their price target on Kellogg from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Finally, ValuEngine upgraded Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Kellogg presently has an average rating of “Hold” and an average price target of $72.71.
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.
Read More: Earnings Per Share (EPS) Explained
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