Stephens Inc. AR Increases Stake in Kellogg (K)

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Stephens Inc. AR grew its stake in shares of Kellogg (NYSE:K) by 6.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,561 shares of the company’s stock after buying an additional 706 shares during the quarter. Stephens Inc. AR’s holdings in Kellogg were worth $663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC increased its position in shares of Kellogg by 10.6% during the 3rd quarter. Teachers Advisors LLC now owns 531,601 shares of the company’s stock valued at $37,223,000 after purchasing an additional 50,889 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in Kellogg by 10.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 713,500 shares of the company’s stock worth $49,959,000 after buying an additional 68,624 shares during the last quarter. Legal & General Group Plc lifted its position in Kellogg by 7.0% in the 3rd quarter. Legal & General Group Plc now owns 1,474,417 shares of the company’s stock worth $103,255,000 after buying an additional 96,463 shares during the last quarter. Morgan Stanley lifted its position in Kellogg by 70.2% in the 3rd quarter. Morgan Stanley now owns 1,730,012 shares of the company’s stock worth $121,137,000 after buying an additional 713,311 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in Kellogg by 3.4% in the 3rd quarter. Vanguard Group Inc now owns 21,245,966 shares of the company’s stock worth $1,487,643,000 after buying an additional 696,685 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

K stock traded up $0.48 during midday trading on Tuesday, hitting $56.92. The stock had a trading volume of 283,798 shares, compared to its average volume of 2,628,936. The stock has a market cap of $19.42 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.27 and a beta of 0.56. Kellogg has a 52-week low of $53.14 and a 52-week high of $74.98. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 2.75.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.06. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 earnings per share. Equities research analysts expect that Kellogg will post 3.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.24 annualized dividend and a yield of 3.94%. Kellogg’s payout ratio is 51.73%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $57.84, for a total value of $5,784,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 600,000 shares of company stock worth $33,977,000. 0.09% of the stock is owned by insiders.

K has been the subject of a number of recent research reports. Piper Jaffray Companies set a $69.00 target price on Kellogg and gave the stock a “buy” rating in a research report on Friday, February 8th. Buckingham Research set a $67.00 price objective on Kellogg and gave the company a “buy” rating in a research report on Friday, February 8th. TheStreet downgraded Kellogg from a “b-” rating to a “c” rating in a research report on Thursday, February 7th. Credit Suisse Group set a $54.00 price objective on Kellogg and gave the company a “hold” rating in a research report on Saturday, February 9th. Finally, Deutsche Bank set a $60.00 price objective on Kellogg and gave the company a “hold” rating in a research report on Friday, February 8th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $62.98.

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Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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