Kellogg Company (K) Holding Reduced by Mutual of America Capital Management LLC

Kellogg Company (K) Holding Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Kellogg Company (NYSE:K) by 5.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,871 shares of the company’s stock after selling 1,725 shares during the period. Mutual of America Capital Management LLC’s holdings in Kellogg Company were worth $2,169,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Independent Advisor Alliance acquired a new position in shares of Kellogg Company during the fourth quarter worth approximately $116,000. Exane Derivatives boosted its position in shares of Kellogg Company by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares during the last quarter. Security National Trust Co. boosted its position in shares of Kellogg Company by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock worth $150,000 after buying an additional 139 shares during the last quarter. Enterprise Financial Services Corp boosted its position in shares of Kellogg Company by 6.8% in the first quarter. Enterprise Financial Services Corp now owns 2,352 shares of the company’s stock worth $170,000 after buying an additional 149 shares during the last quarter. Finally, Alpha Windward LLC boosted its position in shares of 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 last quarter. 81.55% of the stock is currently owned by institutional investors.

Kellogg Company (K) traded up 1.87% during midday trading on Thursday, hitting $72.94. 2,073,476 shares of the company traded hands. The stock has a 50 day moving average of $71.42 and a 200 day moving average of $72.84. Kellogg Company has a 12-month low of $68.67 and a 12-month high of $87.16. The stock has a market cap of $25.55 billion, a P/E ratio of 33.00 and a beta of 0.53.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.85%. Kellogg Company’s dividend payout ratio (DPR) is 106.67%.

Several equities analysts have issued reports on K shares. Zacks Investment Research raised shares of Kellogg Company from a “sell” rating to a “hold” rating in a research note on Monday. Piper Jaffray Companies started coverage on shares of Kellogg Company in a research note on Wednesday, May 24th. They issued an “overweight” rating and a $78.00 price objective on the stock. Credit Suisse Group AG dropped their price objective on shares of Kellogg Company from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. TheStreet raised shares of Kellogg Company from a “c+” rating to a “b+” rating in a research note on Thursday, May 4th. Finally, Royal Bank of Canada dropped their price objective on shares of 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 research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $81.33.

In other Kellogg Company news, Director James M. Jenness sold 70,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.06, for a total transaction of $4,974,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.80% of the company’s stock.

About Kellogg Company

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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