Rothschild Asset Management Inc. increased its position in shares of Kellogg Co. (NYSE:K) by 13.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,039 shares of the company’s stock after buying an additional 981 shares during the period. Rothschild Asset Management Inc.’s holdings in Kellogg were worth $623,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of Kellogg by 19.5% in the second quarter. BlackRock Fund Advisors now owns 5,969,724 shares of the company’s stock worth $487,428,000 after buying an additional 974,525 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of Kellogg by 74.7% in the second quarter. Janus Capital Management LLC now owns 1,973,032 shares of the company’s stock worth $161,098,000 after buying an additional 843,807 shares during the last quarter. Waddell & Reed Financial Inc. raised its stake in shares of Kellogg by 561.8% in the second quarter. Waddell & Reed Financial Inc. now owns 951,155 shares of the company’s stock worth $77,662,000 after buying an additional 807,425 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Kellogg by 96.2% in the second quarter. Teachers Advisors Inc. now owns 1,153,113 shares of the company’s stock worth $94,152,000 after buying an additional 565,263 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Kellogg by 162.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 911,789 shares of the company’s stock worth $74,448,000 after buying an additional 564,210 shares during the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kellogg Co. (NYSE:K) traded down 0.28% during mid-day trading on Thursday, reaching $71.78. 1,538,414 shares of the company traded hands. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 36.12 and a beta of 0.50. Kellogg Co. has a 52 week low of $69.07 and a 52 week high of $87.16. The firm has a 50-day moving average price of $72.74 and a 200 day moving average price of $77.33.
Kellogg (NYSE:K) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. Kellogg had a net margin of 5.41% and a return on equity of 61.36%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $878.20 million. During the same period last year, the business earned $0.85 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, analysts anticipate that Kellogg Co. will post $3.68 earnings per share for the current year.
Several research firms recently commented on K. Credit Suisse Group AG lowered shares of Kellogg from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $84.00 to $77.00 in a research note on Wednesday, December 7th. Zacks Investment Research raised shares of Kellogg from a “sell” rating to a “hold” rating in a report 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 given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.36.
In related news, insider Paul T. Norman sold 5,420 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $74.89, for a total value of $405,903.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronald L. Dissinger sold 5,843 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $74.88, for a total transaction of $437,523.84. The disclosure for this sale can be found here. Insiders sold a total of 16,299 shares of company stock worth $1,220,523 over the last 90 days. Company insiders own 8.80% 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 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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