United Asset Strategies Inc. grew its position in Kellogg (NYSE:K) by 18.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,321 shares of the company’s stock after purchasing an additional 2,049 shares during the quarter. United Asset Strategies Inc.’s holdings in Kellogg were worth $714,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Beutel Goodman & Co Ltd. raised its position in shares of Kellogg by 13.5% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,894,578 shares of the company’s stock worth $167,224,000 after acquiring an additional 462,398 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Kellogg by 11.6% in the 4th quarter. Geode Capital Management LLC now owns 3,517,033 shares of the company’s stock worth $200,178,000 after acquiring an additional 364,719 shares in the last quarter. Northern Trust Corp raised its position in shares of Kellogg by 1.3% in the 1st quarter. Northern Trust Corp now owns 3,460,612 shares of the company’s stock worth $198,570,000 after acquiring an additional 45,977 shares in the last quarter. Ceredex Value Advisors LLC raised its position in shares of Kellogg by 37.1% in the 1st quarter. Ceredex Value Advisors LLC now owns 2,849,219 shares of the company’s stock worth $163,488,000 after acquiring an additional 771,375 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Kellogg by 19.8% in the 1st quarter. California Public Employees Retirement System now owns 1,699,173 shares of the company’s stock worth $97,499,000 after acquiring an additional 280,644 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

NYSE:K traded down $0.80 during mid-day trading on Wednesday, hitting $61.90. 19,525 shares of the company’s stock traded hands, compared to its average volume of 2,617,550. The stock has a fifty day moving average of $57.58. Kellogg has a twelve month low of $51.34 and a twelve month high of $74.98. The company has a market cap of $21.35 billion, a P/E ratio of 14.24, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 2.67.

Kellogg (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.08. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.41 billion. Kellogg had a return on equity of 41.91% and a net margin of 6.28%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. Analysts expect that Kellogg will post 3.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be issued a $0.57 dividend. The ex-dividend date is Friday, August 30th. This is a positive change from Kellogg’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.68%. Kellogg’s dividend payout ratio is currently 51.73%.

Several research analysts have recently commented on K shares. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price target for the company. in a research report on Friday, August 2nd. Morgan Stanley boosted their price target on Kellogg from $56.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Barclays set a $62.00 price target on Kellogg and gave the stock a “sell” rating in a research report on Friday, August 2nd. Consumer Edge lowered Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 target price on the stock. in a research report on Monday, June 24th. Finally, GMP Securities reaffirmed a “buy” rating on shares of Kellogg in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.47.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $54.84, for a total value of $5,484,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 600,000 shares of company stock worth $33,914,000 over the last three months. Corporate insiders own 0.09% of the company’s stock.

Kellogg Profile

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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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