Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Kellogg Company shares valued at $201,675 were sold by Lance Rodrigo on Feb 27. At $67.79 per share, Lance Rodrigo sold 2,975 shares. The insider’s holdings dropped to 14,935 shares worth approximately $0.98 million following the completion of this transaction.
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Also, AMAYA NICOLAS sold 5,700 shares, netting a total of over 389,091 in proceeds. Following the sale of shares at $68.26 each, the insider now holds 20,166 shares.
Before that, PILNICK GARY H had sold 22,197 shares from its account. In a trade valued at $1,527,440, the Vice Chairman traded Kellogg Company shares for $68.81 each. Upon closing the transaction, the insider’s holdings decreased to 22,197 shares, worth approximately $1.54 million.
As published in their initiating research note from Exane BNP Paribas on November 15, 2022, Kellogg Company [K] has been an Underperform and the price target has been revised to $66. This represents a 0.58% premium over Thursday’s closing price. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early August. As of July 07, 2022, UBS has decreased its “Buy” rating to a “Neutral” for K. Earlier on May 03, 2022, Piper Sandler downgraded its rating. Their new recommendation was “an Underweight” for K stock which previously was a “a Neutral”.
Analyzing K Stock Performance
On Thursday, Kellogg Company [NYSE: K] rose 0.55% to $65.62. The stock’s lowest price that day was $65.10, but it reached a high of $65.81 in the same session. During the last five days, there has been a drop of approximately -3.80%. Over the course of the year, Kellogg Company shares have dropped approximately -7.89%. Shares of the company reached a 52-week high of $72.67 on 01/09/23 and a 52-week low of $64.55 on 03/01/23. A 50-day SMA is recorded $68.96, while a 200-day SMA reached $71.31. Nevertheless, trading volume fell to 2.21 million shares from 1.85 million shares the previous day.
Support And Resistance Levels for Kellogg Company (K)
According to the 24-hour chart, there is a support level at 65.21, which, if violated, would cause prices to drop to 64.80. In the upper region, resistance lies at 65.92. The next price resistance is at 66.22. RSI (Relative Strength Index) is 36.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.75, which suggests the price will decrease in the coming days. Percent R is at 78.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Kellogg Company subject to short interest?
Stocks of Kellogg Company saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.29 million shares to 11.79 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 12.08 million shares. A decline of -2.46% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.82 of the overall float, the days-to-cover ratio (short ratio) decline to 5.82.
Which companies own the most shares of Kellogg Company (K)?
According to Northern Trust Investments, Inc. filings, the company currently owns 55,531,838 shares, which is about 16.27% of the total K shares outstanding. The investor’s shares have appreciated by 51,952,671 from its previous 13-F filing of 3579167.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $2,031,953,460. BlackRock Fund Advisors acquire a 19.21% interest valued at $1.5 billion while KeyBank, NA sold a -49,501 stake. A total of 141,523 shares of Kellogg Company were sold by SSgA Funds Management, Inc. during the quarter, and 266,465 were bought by Wellington Management Co. LLP. In its current portfolio, Geode Capital Management LLC holds 5,500,376 shares valued at $377.22 million.