Simmons Bank reduced its stake in Kellogg Company (NYSE:K) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,915 shares of the company’s stock after selling 50 shares during the period. Simmons Bank’s holdings in Kellogg Company were worth $536,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Kellogg Company by 0.6% in the third quarter. Brighton Jones LLC now owns 3,593 shares of the company’s stock worth $278,000 after buying an additional 23 shares in the last quarter. Northeast Investment Management increased its stake in Kellogg Company by 0.7% in the second quarter. Northeast Investment Management now owns 3,769 shares of the company’s stock worth $308,000 after buying an additional 27 shares in the last quarter. Washington Trust Bank increased its stake in Kellogg Company by 1.9% in the third quarter. Washington Trust Bank now owns 1,799 shares of the company’s stock worth $139,000 after buying an additional 34 shares in the last quarter. WASHINGTON TRUST Co increased its stake in Kellogg Company by 1.8% in the second quarter. WASHINGTON TRUST Co now owns 2,904 shares of the company’s stock worth $237,000 after buying an additional 50 shares in the last quarter. Finally, Lodestar Investment Counsel LLC IL increased its stake in Kellogg Company by 1.0% in the third quarter. Lodestar Investment Counsel LLC IL now owns 7,720 shares of the company’s stock worth $598,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.
Shares of Kellogg Company (NYSE:K) traded down 0.07% during mid-day trading on Wednesday, reaching $71.98. The company had a trading volume of 1,975,518 shares. The firm’s 50-day moving average price is $72.77 and its 200 day moving average price is $77.37. The company has a market cap of $25.26 billion, a price-to-earnings ratio of 36.23 and a beta of 0.50. Kellogg Company has a 52-week low of $69.07 and a 52-week high of $87.16.
Kellogg Company (NYSE:K) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. Kellogg Company had a return on equity of 61.36% and a net margin of 5.41%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $878.20 million. During the same period in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts expect that Kellogg Company will post $3.68 EPS for the current year.
K has been the topic of a number of recent research reports. Credit Suisse Group reiterated an “outperform” rating and set a $94.00 price target on shares of Kellogg Company in a research note on Tuesday, September 27th. Zacks Investment Research upgraded shares of Kellogg Company from a “sell” rating to a “hold” rating in a research note on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Kellogg Company presently has a consensus rating of “Hold” and a consensus price target of $81.36.
In other news, CFO Ronald L. Dissinger sold 5,843 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $74.88, for a total transaction of $437,523.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul T. Norman sold 5,420 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $74.89, for a total value of $405,903.80. The disclosure for this sale can be found here. 8.80% of the stock is owned by company insiders.
About Kellogg Company
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.
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