JLB & Associates Inc. Has $2.02 Million Holdings in Kellogg (NYSE:K)

JLB & Associates Inc. lessened its holdings in shares of Kellogg (NYSE:K) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,273 shares of the company’s stock after selling 691 shares during the quarter. JLB & Associates Inc.’s holdings in Kellogg were worth $2,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of Kellogg by 3,386.9% in the second quarter. Pacer Advisors Inc. now owns 35,392 shares of the company’s stock worth $2,338,000 after acquiring an additional 34,377 shares during the last quarter. BBVA USA Bancshares Inc. increased its position in Kellogg by 30.8% during the second quarter. BBVA USA Bancshares Inc. now owns 21,173 shares of the company’s stock worth $1,399,000 after buying an additional 4,986 shares during the last quarter. State of Michigan Retirement System raised its holdings in Kellogg by 11.9% during the second quarter. State of Michigan Retirement System now owns 63,862 shares of the company’s stock valued at $4,219,000 after buying an additional 6,771 shares in the last quarter. Comerica Bank lifted its position in shares of Kellogg by 48.1% in the second quarter. Comerica Bank now owns 81,277 shares of the company’s stock worth $5,483,000 after buying an additional 26,386 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Kellogg by 0.8% during the 1st quarter. State Street Corp now owns 13,680,630 shares of the company’s stock worth $820,701,000 after acquiring an additional 113,082 shares in the last quarter. Institutional investors own 85.26% of the company’s stock.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $67.48, for a total value of $6,748,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Steven A. Cahillane purchased 2,727 shares of the stock in a transaction on Monday, August 3rd. The stock was bought at an average price of $69.32 per share, for a total transaction of $189,035.64. Following the completion of the transaction, the chief executive officer now directly owns 53,292 shares of the company’s stock, valued at $3,694,201.44. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 557,500 shares of company stock worth $37,348,289. 1.10% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on K shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $69.00 target price on shares of Kellogg in a research report on Tuesday, July 28th. Citigroup initiated coverage on shares of Kellogg in a report on Friday, August 28th. They set a “buy” rating and a $79.00 price objective for the company. Goldman Sachs Group lowered shares of Kellogg from a “buy” rating to a “neutral” rating and raised their target price for the company from $71.00 to $73.00 in a research note on Thursday, July 30th. Seaport Global Securities began coverage on shares of Kellogg in a research report on Tuesday, July 28th. They set a “buy” rating and a $76.00 target price for the company. Finally, Morgan Stanley upped their price target on shares of Kellogg from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $71.63.

Shares of K stock traded down $0.04 during mid-day trading on Friday, reaching $67.10. The stock had a trading volume of 1,215,727 shares, compared to its average volume of 2,233,716. Kellogg has a one year low of $52.66 and a one year high of $72.88. The firm has a market cap of $23.01 billion, a PE ratio of 21.17, a P/E/G ratio of 2.80 and a beta of 0.63. The firm’s 50 day simple moving average is $65.91 and its 200 day simple moving average is $65.88. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 2.03.

Kellogg (NYSE:K) last issued its earnings results on Thursday, July 30th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a return on equity of 43.36% and a net margin of 8.09%. Kellogg’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. Sell-side analysts forecast that Kellogg will post 3.96 earnings per share for the current fiscal year.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, 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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