Tompkins Financial Corp Decreases Holdings in Kellogg (NYSE:K)

Tompkins Financial Corp trimmed its position in shares of Kellogg (NYSE:K) by 29.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 950 shares of the company’s stock after selling 398 shares during the period. Tompkins Financial Corp’s holdings in Kellogg were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in K. Clearview Wealth Advisors LLC purchased a new position in Kellogg in the 4th quarter worth approximately $25,000. Princeton Global Asset Management LLC increased its stake in Kellogg by 100.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 440 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares during the period. Perigon Wealth Management LLC purchased a new position in Kellogg in the 4th quarter worth approximately $29,000. Birchcreek Wealth Management LLC purchased a new position in Kellogg in the 4th quarter worth approximately $31,000. Finally, Simon Quick Advisors LLC bought a new stake in shares of Kellogg in the 3rd quarter worth approximately $32,000. 86.08% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the company. Piper Sandler lowered Kellogg from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $76.00 to $66.00 in a research report on Tuesday, January 5th. Jefferies Financial Group cut their price objective on Kellogg from $69.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, January 12th. JPMorgan Chase & Co. cut their price objective on Kellogg from $67.00 to $58.00 in a research report on Tuesday, January 19th. Citigroup cut their price objective on Kellogg from $75.00 to $72.00 in a research report on Tuesday, February 16th. Finally, Morgan Stanley cut their price objective on Kellogg from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.83.

Shares of Kellogg stock opened at $59.26 on Tuesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.58. The company has a 50-day moving average of $58.84 and a 200 day moving average of $63.58. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 3.71 and a beta of 0.60. Kellogg has a 1 year low of $52.66 and a 1 year high of $72.88.

Kellogg (NYSE:K) last issued its quarterly earnings results on Wednesday, February 10th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.03). Kellogg had a return on equity of 41.23% and a net margin of 8.80%. On average, equities analysts anticipate that Kellogg will post 4.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Tuesday, March 9th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, March 1st. This represents a $2.28 dividend on an annualized basis and a yield of 3.85%. Kellogg’s dividend payout ratio is currently 57.87%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the firm’s stock in a transaction dated Monday, December 21st. The shares were sold at an average price of $60.94, for a total transaction of $5,078,373.96. Over the last 90 days, insiders have sold 500,001 shares of company stock valued at $29,627,558. 1.10% of the stock is owned by company insiders.

Kellogg Company Profile

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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