Campbell Newman Asset Management Inc. cut its stake in Kellogg Company (NYSE:K) by 47.0% during the first quarter, Holdings Channel reports. The firm owned 101,226 shares of the company’s stock after selling 89,780 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Kellogg Company were worth $7,350,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. HL Financial Services LLC raised its position in Kellogg Company by 15.2% in the third quarter. HL Financial Services LLC now owns 10,718 shares of the company’s stock valued at $830,000 after buying an additional 1,413 shares during the last quarter. Conning Inc. raised its position in Kellogg Company by 5.6% in the third quarter. Conning Inc. now owns 6,999 shares of the company’s stock valued at $542,000 after buying an additional 370 shares during the last quarter. Cortland Associates Inc. MO acquired a new position in Kellogg Company during the third quarter valued at about $692,000. IFC Holdings Incorporated FL raised its position in Kellogg Company by 3.3% in the third quarter. IFC Holdings Incorporated FL now owns 3,033 shares of the company’s stock valued at $233,000 after buying an additional 97 shares during the last quarter. Finally, Murphy Capital Management Inc. raised its position in Kellogg Company by 9.3% in the third quarter. Murphy Capital Management Inc. now owns 8,200 shares of the company’s stock valued at $635,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.
Kellogg Company (NYSE:K) traded down 0.339% during midday trading on Thursday, reaching $72.085. 1,064,960 shares of the company’s stock were exchanged. The stock has a market capitalization of $25.31 billion, a price-to-earnings ratio of 36.778 and a beta of 0.53. The stock’s 50-day moving average is $73.62 and its 200-day moving average is $73.84. Kellogg Company has a 12-month low of $70.74 and a 12-month high of $87.16.
Kellogg Company (NYSE:K) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.07. Kellogg Company had a net margin of 5.33% and a return on equity of 66.33%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Kellogg Company will post $3.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.88%. Kellogg Company’s dividend payout ratio is presently 106.67%.
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K has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered shares of Kellogg Company from a “market perform” rating to an “underperform” rating in a report on Tuesday, March 21st. Deutsche Bank AG initiated coverage on shares of Kellogg Company in a report on Wednesday, February 15th. They issued a “hold” rating and a $79.00 price objective for the company. TheStreet lowered shares of Kellogg Company from a “b” rating to a “c+” rating in a report on Thursday, February 9th. Royal Bank of Canada boosted their price objective on shares of Kellogg Company from $84.00 to $87.00 and gave the stock a “sector perform” rating in a report on Friday, February 10th. Finally, Zacks Investment Research upgraded shares of Kellogg Company from a “sell” rating to a “hold” rating in a report on Tuesday, January 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $82.67.
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.
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