5 Best Vegan Stocks To Buy

04. Kellogg Company (NYSE:K)

Number of Hedge Fund Holders as of Q2, 2022: 25

Kellogg Company (NYSE:K) is an American multinational food manufacturing company. It is a key player in the plant-based protein sector. On July 29, Kellogg Company (NYSE:K) declared a quarterly dividend of $0.59 per share, which was $0.01 above the previous. The dividend was paid on September 15, to shareholders of record on September 1. The stock has seen dividend growth for the past seventeen consecutive years. Kellogg Company (NYSE:K) has a payout ratio of 55.24% and has gained 11.29% value year to date, as of October 17, 2022.

On August 8, Nik Modi, an analyst at RBC Capital, raised his price target for Kellogg Company (NYSE:K) from $66 to $70 while maintaining a Sector Perform rating on the stock. The company’s Q2 earnings beat and raise highlighted that its snacking business is “strong globally.” According to the analyst’s research note to investors, the U.S. cereal situation is recovering faster than anticipated. In light of its excellent first-half performance, underlying trends, and confidence in its plans for the second half of 2022, Kellogg Company’s (NYSE:K) management increased its 2022 guidance. Organic net sales growth in 2022 is estimated to expand by 7-8%, up from the roughly 4% gain initially predicted.

Among the hedge funds tracked by Insider Monkey, Kellogg Company (NYSE:K) was found in the public stock portfolios of 25 funds at the end of June 2022, up from 22 funds in the earlier quarter. Jim Simons’ Renaissance Technologies is a significant position holder in the company, with 2.6 million shares worth more than $188 million.