Campbell Newman Asset Management Inc Lowers stake in Kellogg Company (K)

Kellogg Company (K) : Campbell Newman Asset Management Inc reduced its stake in Kellogg Company by 10.22% during the most recent quarter end. The investment management company now holds a total of 216,794 shares of Kellogg Company which is valued at $18,017,749 after selling 24,675 shares in Kellogg Company , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Kellogg Company makes up approximately 3.20% of Campbell Newman Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Svenska Handelsbanken Ab (publ) reduced its stake in K by selling 10,381 shares or 19.59% in the most recent quarter. The Hedge Fund company now holds 42,619 shares of K which is valued at $3,542,065. Kellogg Company makes up approx 0.21% of Svenska Handelsbanken Ab (publ)’s portfolio.New England Research Management reduced its stake in K by selling 50 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 16,332 shares of K which is valued at $1,343,470. Kellogg Company makes up approx 1.17% of New England Research Management’s portfolio.Toth Financial Advisory Corp reduced its stake in K by selling 545 shares or 1.88% in the most recent quarter. The Hedge Fund company now holds 28,454 shares of K which is valued at $2,321,846. Kellogg Company makes up approx 0.71% of Toth Financial Advisory Corp’s portfolio.

Kellogg Company opened for trading at $85.47 and hit $86.22 on the upside on Friday, eventually ending the session at $85.99, with a gain of 0.79% or 0.67 points. The heightened volatility saw the trading volume jump to 83,30,879 shares. Company has a market cap of $30,101 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.

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s 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 Company’s cereal products are generally marketed under the Kellogg’s 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 Kellogg’s 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.

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