RNC Capital Management LLC boosted its holdings in shares of Kellogg (NYSE:K) by 16.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,145 shares of the company’s stock after buying an additional 1,735 shares during the quarter. RNC Capital Management LLC’s holdings in Kellogg were worth $697,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Renaissance Technologies LLC grew its stake in Kellogg by 102.4% in the 3rd quarter. Renaissance Technologies LLC now owns 282,800 shares of the company’s stock valued at $19,802,000 after acquiring an additional 143,100 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Kellogg in the 3rd quarter valued at $365,000. Man Group plc grew its stake in Kellogg by 62.1% in the 3rd quarter. Man Group plc now owns 111,258 shares of the company’s stock valued at $7,791,000 after acquiring an additional 42,636 shares during the period. Verition Fund Management LLC acquired a new stake in Kellogg in the 3rd quarter valued at $559,000. Finally, Advisors Asset Management Inc. grew its stake in Kellogg by 10.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 18,909 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,721 shares during the period. 86.75% of the stock is owned by institutional investors.
A number of research firms recently issued reports on K. Zacks Investment Research raised shares of Kellogg from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Piper Jaffray Companies dropped their price target on shares of Kellogg from $69.00 to $64.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. Credit Suisse Group set a $54.00 target price on shares of Kellogg and gave the stock a “hold” rating in a research note on Saturday, February 9th. Royal Bank of Canada reaffirmed a “hold” rating and set a $67.00 target price on shares of Kellogg in a research note on Wednesday, December 19th. Finally, BMO Capital Markets lowered their target price on shares of Kellogg to $62.00 and set a “market perform” rating on the stock in a research note on Friday, February 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Kellogg has an average rating of “Hold” and a consensus target price of $63.04.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $54.76, for a total value of $5,476,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 600,000 shares of company stock worth $33,655,000. 0.09% of the stock is owned by insiders.
K traded down $0.23 on Thursday, hitting $57.86. 11,703 shares of the company’s stock were exchanged, compared to its average volume of 2,730,013. Kellogg has a fifty-two week low of $53.14 and a fifty-two week high of $74.98. The company has a quick ratio of 0.40, a current ratio of 0.70 and a debt-to-equity ratio of 2.60. The stock has a market cap of $20.02 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 3.30 and a beta of 0.54.
Kellogg (NYSE:K) last announced its earnings results on Thursday, February 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, research analysts anticipate that Kellogg will post 3.93 earnings per share for the current year.
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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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