Kellogg (NYSE:K) Shares Purchased by BBVA USA Bancshares Inc.

BBVA USA Bancshares Inc. lifted its holdings in Kellogg (NYSE:K) by 30.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,173 shares of the company’s stock after purchasing an additional 4,986 shares during the period. BBVA USA Bancshares Inc.’s holdings in Kellogg were worth $1,399,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in K. Captrust Financial Advisors grew its holdings in Kellogg by 45.6% during the 4th quarter. Captrust Financial Advisors now owns 5,061 shares of the company’s stock worth $342,000 after acquiring an additional 1,586 shares in the last quarter. AQR Capital Management LLC grew its holdings in Kellogg by 65.8% during the 4th quarter. AQR Capital Management LLC now owns 221,664 shares of the company’s stock worth $15,330,000 after acquiring an additional 87,966 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Kellogg by 3.2% during the 1st quarter. Mackenzie Financial Corp now owns 19,076 shares of the company’s stock worth $1,144,000 after acquiring an additional 590 shares in the last quarter. State Street Corp grew its holdings in 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. Finally, Vident Investment Advisory LLC grew its holdings in Kellogg by 39.9% during the 2nd quarter. Vident Investment Advisory LLC now owns 22,119 shares of the company’s stock worth $1,461,000 after acquiring an additional 6,312 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

K stock opened at $67.46 on Thursday. The company has a fifty day moving average price of $66.29 and a 200 day moving average price of $65.12. Kellogg has a 12 month low of $52.66 and a 12 month high of $71.05. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 4.64 and a beta of 0.57. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.77 and a quick ratio of 0.55.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.39 billion. Kellogg had a net margin of 7.61% and a return on equity of 41.25%. Kellogg’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. As a group, analysts anticipate that Kellogg will post 3.81 earnings per share for the current year.

K has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Kellogg from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Sanford C. Bernstein downgraded shares of Kellogg from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $64.00 to $55.00 in a research report on Thursday, June 11th. Consumer Edge upgraded shares of Kellogg from an “underweight” rating to an “equal weight” rating and set a $65.00 price objective for the company in a research report on Friday, May 1st. Morgan Stanley boosted their price objective on shares of Kellogg from $66.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, ValuEngine downgraded shares of Kellogg from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $68.88.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $66.72, for a total value of $6,672,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 400,000 shares of company stock worth $26,766,000 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

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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