Mercer Capital Advisers buys $41,780 stake in Kellogg Company (K)

Kellogg Company (K) : Mercer Capital Advisers scooped up 4 additional shares in Kellogg Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 555 shares of Kellogg Company which is valued at $41,780.Kellogg Company makes up approximately 0.04% of Mercer Capital Advisers’s portfolio.

Kellogg Company opened for trading at $75.56 and hit $76.64 on the upside on Wednesday, eventually ending the session at $76.39, with a gain of 1.42% or 1.07 points. The heightened volatility saw the trading volume jump to 13,97,087 shares. Company has a market cap of $26,756 M.

Other Hedge Funds, Including , Wealth Enhancement Advisory Services boosted its stake in K in the latest quarter, The investment management firm added 1,753 additional shares and now holds a total of 21,756 shares of Kellogg Company which is valued at $1,637,792. Kellogg Company makes up approx 0.33% of Wealth Enhancement Advisory Services’s portfolio.

On the company’s financial health, Kellogg Company reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.74. The company had revenue of $3142.00 million for the quarter, compared to analysts expectations of $3142.30 million. The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.84 EPS.

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 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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