Kellogg (NYSE:K) Shares Bought by Deutsche Bank AG

Deutsche Bank AG grew its stake in shares of Kellogg (NYSE:K) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,042,454 shares of the company’s stock after purchasing an additional 27,343 shares during the quarter. Deutsche Bank AG owned approximately 0.60% of Kellogg worth $131,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Kellogg by 5.9% during the first quarter. BlackRock Inc. now owns 24,415,240 shares of the company’s stock worth $1,545,486,000 after acquiring an additional 1,359,123 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Kellogg by 2.6% during the first quarter. Geode Capital Management LLC now owns 4,205,881 shares of the company’s stock worth $265,489,000 after acquiring an additional 106,653 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Kellogg by 66.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,420,279 shares of the company’s stock worth $216,504,000 after acquiring an additional 1,369,552 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Kellogg by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 2,843,721 shares of the company’s stock worth $180,007,000 after acquiring an additional 92,227 shares during the last quarter. Finally, Factorial Partners LLC grew its position in shares of Kellogg by 6,664.9% during the first quarter. Factorial Partners LLC now owns 2,658,600 shares of the company’s stock worth $42,000,000 after acquiring an additional 2,619,300 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors.

Shares of K stock opened at $63.22 on Thursday. The firm has a 50-day moving average price of $63.80 and a 200 day moving average price of $63.90. Kellogg has a twelve month low of $56.61 and a twelve month high of $68.60. The company has a market capitalization of $21.55 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 3.52 and a beta of 0.65. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.81.

Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, August 5th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.03 by $0.11. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Kellogg had a return on equity of 37.51% and a net margin of 9.27%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. As a group, research analysts predict that Kellogg will post 4.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Tuesday, August 31st. Kellogg’s payout ratio is currently 58.15%.

K has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Kellogg in a research report on Tuesday. They issued a “hold” rating and a $64.00 price objective on the stock. Credit Suisse Group lowered their price objective on shares of Kellogg from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, August 30th. Seaport Res Ptn reiterated a “buy” rating on shares of Kellogg in a research report on Thursday, August 5th. Finally, National Bank Financial lowered shares of Kellogg to a “sector perform” rating in a research report on Tuesday, June 22nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kellogg currently has an average rating of “Hold” and an average target price of $66.78.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $63.79, for a total value of $5,315,812.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the company’s stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $63.43, for a total value of $5,285,875.62. The disclosure for this sale can be found here. Insiders have sold a total of 499,997 shares of company stock valued at $32,074,806 in the last quarter. Company insiders own 1.20% of the company’s stock.

Kellogg Profile

Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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