Hartford Investment Management Co. sells 1,825 shares of Kellogg (NYSE:K)


Hartford Investment Management Co. cut its position in Kellogg (NYSE:K – Get Rating ) by 5.4% during the first quarter, HoldingsChannel reports. The firm owned 31,908 shares of the company’s stock after selling 1,825 shares during the quarter. Hartford Investment Management Co.’s holdings. in Kellogg were worth $2,058,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of K. Nordea Investment Management AB increased its position in shares of Kellogg by 66.2% in the 4th quarter. Nordea Investment Management AB now owns 3,187,874 shares of the company’s stock valued at $203,833,000 after buying an additional 1,269,325 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Kellogg during the fourth quarter valued at about $74,159,000. Renaissance Technologies LLC boosted its holdings in Kellogg by 37.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,162,011 shares of the company’s stock valued at $139,277,000 after buying an additional 587,400 shares in the last quarter. Brown Advisory Inc. raised its position in Kellogg by 131.1% during the fourth quarter. Brown Advisory Inc. now owns 1,035,464 shares of the company’s stock valued at $66,705,000 after acquiring an additional 587,322 shares during the period. Finally, BlackRock Inc. grew its stake in Kellogg by 2.3% in the fourth quarter. BlackRock Inc. now owns 25,791,189 shares of the company’s stock valued at $1,661,467,000 after acquiring an additional 581,212 shares during the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s shares.

Shares of Kellogg stock opened at $71.78 on Monday. The firm has a market cap of $24.25 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 4.63 and a beta of 0.43. The company has a current ratio of 0.65, a quick ratio of 0.39 and a debt-to-equity ratio of 1.39. Kellogg has a 12-month low of $59.54 and a 12-month high of $75.56. The business’s 50-day moving average is $69.72 and its 200-day moving average is $66.42.

Kellogg (NYSE:K – Get Rating ) last posted its earnings results on Thursday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. Kellogg had a return on equity of 34.82% and a net margin of 10.81%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ estimates of $3.59 billion. In the same quarter last year, the firm earned $1.11 earnings per share. Kellogg’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts forecast that Kellogg will post 4.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, May 31st. This represents an annualized dividend of $2.32 and a dividend yield of 3.23%. Kellogg’s dividend payout ratio (DPR) is 51.67%.

In other news, major shareholder Kellogg WK Foundation Trust sold 146,153 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $74.06, for a total transaction of $10,824,091.18. Following the transaction, the insider now directly owns 57,754,909 shares of the company’s stock, valued at $4,277,328,560.54. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this link. Over the last ninety days, insiders have sold 876,918 shares of company stock worth $60,969,185. 1.40% of shares are owned by insiders.

K has been the subject of a number of research reports. Credit Suisse Group boosted their target price on shares of Kellogg from $62.00 to $69.00 in a report on Monday, May 9th. StockNews.com upgraded Kellogg from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. UBS Group began coverage on Kellogg in a research report on Wednesday, March 30th. They set a “buy” rating and a $73.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Kellogg from $74.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, June 22nd. Finally, Citigroup boosted their price objective on shares of Kellogg from $83.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $70.10, according to MarketBeat.

About Kellogg (Get Rating)

The Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates in four segments: North America, Europe, Latin America and Asia, Middle East, Africa. Its main products include crackers, chips, salty snacks, toaster pastries, cereal bars, muesli and snacks, ready-to-eat cereals, frozen waffles, vegetarian foods and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)



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