Kellogg Company (K) : Keybank National Associationoh reduced its stake in Kellogg Company by 0.37% during the most recent quarter end. The investment management company now holds a total of 27,048,982 shares of Kellogg Company which is valued at $2,087.9 Million after selling 100,390 shares in Kellogg Company , the firm said in a disclosure report filed with the SEC on May 11, 2016.Kellogg Company makes up approximately 13.92% of Keybank National Associationoh’s portfolio.
Other Hedge Funds, Including , Great Lakes Advisors reduced its stake in K by selling 8,814 shares or 57.25% in the most recent quarter. The Hedge Fund company now holds 6,581 shares of K which is valued at $507,987. Kellogg Company makes up approx 0.01% of Great Lakes Advisors’s portfolio. Gideon Capital Advisors added K to its portfolio by purchasing 8,245 company shares during the most recent quarter which is valued at $636,432. Kellogg Company makes up approx 0.80% of Gideon Capital Advisors’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in K by selling 5,917 shares or 1.78% in the most recent quarter. The Hedge Fund company now holds 325,714 shares of K which is valued at $24.4 Million. Kellogg Company makes up approx 0.09% of State Board Of Administration Of Florida Retirement System’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in K in the latest quarter, The investment management firm added 1,016 additional shares and now holds a total of 7,415 shares of Kellogg Company which is valued at $556,273. Kellogg Company makes up approx 0.06% of Tokio Marine Asset Management Co Ltd’s portfolio.American Century Companies Inc boosted its stake in K in the latest quarter, The investment management firm added 848,359 additional shares and now holds a total of 2,948,302 shares of Kellogg Company which is valued at $221.2 Million. Kellogg Company makes up approx 0.26% of American Century Companies Inc’s portfolio.
Kellogg Company opened for trading at $77.01 and hit $77.44 on the upside on Monday, eventually ending the session at $77.23, with a gain of 0.05% or 0.04 points. The heightened volatility saw the trading volume jump to 16,22,586 shares. Company has a market cap of $27,034 M.
On the company’s financial health, Kellogg Company reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.94. The company had revenue of $3395.00 million for the quarter, compared to analysts expectations of $3466.55 million. The company’s revenue was down -4.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.
Investors should note that on Apr 29, 2016, Kellogg Company announced a cash dividend of $0.5000. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.
Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Credit Suisse on Apr 6, 2016 to “Outperform”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .Kellogg Company was Upgraded by Goldman to ” Neutral” on Mar 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Feb 12, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 78 from a previous price target of $74 .
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Companys principal products are ready-to-eat cereals and convenience foods such as cookies crackers savory snacks toaster pastries cereal bars fruit-flavored snacks frozen waffles and veggie foods. The Companys cereal products are generally marketed under the Kelloggs name and are sold to the grocery trade through direct sales forces for resale to consumers. The Company also markets cookies crackers crisps and other convenience foods under brands such as Kelloggs Keebler Cheez-It Murray Austin and Famous Amos to supermarkets in the United States through a direct store-door (DSD) delivery system although other distribution methods are also used. The Company uses broker and distributor arrangements for certain products. It also uses similar arrangements in less-developed market areas or in those market areas outside of its focus.