Yahoo Finance Vice Chairman of Corporate Development & Chief Legal Officer Gary Pilnick Just Sold A Bunch Of Shares In Kellogg Company (NYSE:K)
Some Kellogg Company (NYSE:K) shareholders may be a little concerned to see that the Vice Chairman of Corporate Development & Chief Legal Officer, Gary Pilnick, recently sold a whopping US$1.3m worth of stock at a price of US$63.73 per share. That's a big dump, and it decreased their holding size by 29%, which is notable but not too bad.
Check out our latest analysis for Kellogg
Kellogg Insider Transactions Over The Last Year
In fact, the recent sale by Gary Pilnick was the biggest sale of Kellogg shares made by an insider individual in the last twelve months, according to our records. So what is clear is that an insider saw fit to sell at around the current price of US$63.68. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.
Happily, we note that in the last year insiders paid US$1.6m for 26015 shares. But they sold 23155 for US$1.5m. Overall, Kellogg insiders were net buyers last year. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership of Kellogg
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Kellogg insiders own about US$155m worth of shares (which is 0.7% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
So What Do The Kellogg Insider Transactions Indicate?
Insiders sold Kellogg shares recently, but they didn't buy any. But we take heart from prior transactions. And insider ownership remains quite considerable. So we're not too bothered by recent selling. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
Of course Kellogg may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
