Kellogg Company (K) Holding Trimmed by Baird Financial Group Inc.

Kellogg Company (K) Holding Trimmed by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its position in shares of Kellogg Company (NYSE:K) by 12.3% during the first quarter, Holdings Channel reports. The fund owned 43,063 shares of the company’s stock after selling 6,031 shares during the period. Baird Financial Group Inc.’s holdings in Kellogg Company were worth $3,127,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Altfest L J & Co. Inc. increased its position in Kellogg Company by 0.5% in the first quarter. Altfest L J & Co. Inc. now owns 2,891 shares of the company’s stock worth $210,000 after buying an additional 14 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Kellogg Company by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,813 shares of the company’s stock worth $495,000 after buying an additional 21 shares during the period. Whittier Trust Co. increased its position in Kellogg Company by 1.0% in the first quarter. Whittier Trust Co. now owns 3,085 shares of the company’s stock worth $224,000 after buying an additional 31 shares during the period. Alpha Windward LLC increased its position in Kellogg Company by 1.5% in the first quarter. Alpha Windward LLC now owns 2,564 shares of the company’s stock worth $186,000 after buying an additional 37 shares during the period. Finally, Reliance Trust Co. of Delaware increased its position in Kellogg Company by 1.0% in the first quarter. Reliance Trust Co. of Delaware now owns 3,937 shares of the company’s stock worth $286,000 after buying an additional 38 shares during the period. 81.55% of the stock is owned by institutional investors and hedge funds.

Kellogg Company (NYSE K) traded up 1.87% during midday trading on Thursday, hitting $72.94. 2,073,476 shares of the company were exchanged. The stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 33.00 and a beta of 0.53. Kellogg Company has a 1-year low of $68.67 and a 1-year high of $87.16. The stock has a 50 day moving average of $71.42 and a 200-day moving average of $72.84.

Kellogg Company (NYSE:K) last issued its quarterly earnings results on Thursday, May 4th. The company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Kellogg Company had a net margin of 5.33% and a return on equity of 66.33%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. Equities analysts expect that Kellogg Company will post $3.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, May 30th. Kellogg Company’s dividend payout ratio is presently 106.67%.

A number of equities analysts have recently weighed in on the company. TheStreet downgraded Kellogg Company from a “b” rating to a “c+” rating in a research note on Thursday, February 9th. Piper Jaffray Companies assumed coverage on Kellogg Company in a research note on Wednesday, May 24th. They issued an “overweight” rating and a $78.00 target price on the stock. Zacks Investment Research upgraded Kellogg Company from a “sell” rating to a “hold” rating in a research note on Monday. Credit Suisse Group AG cut their target price on Kellogg Company from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. Finally, Royal Bank of Canada cut their target price on Kellogg Company from $84.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Kellogg Company presently has an average rating of “Hold” and a consensus target price of $81.33.

In other news, Director James M. Jenness sold 70,000 shares of Kellogg Company stock in a transaction on Monday, May 8th. The shares were sold at an average price of $71.06, for a total transaction of $4,974,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.80% of the company’s stock.

Kellogg Company Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “K”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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