Private Trust Co Na Lowers stake in Kellogg Company (K)

Kellogg Company (K) : Private Trust Co Na reduced its stake in Kellogg Company by 6.51% during the most recent quarter end. The investment management company now holds a total of 190,062 shares of Kellogg Company which is valued at $14,307,867 after selling 13,226 shares in Kellogg Company , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Kellogg Company makes up approximately 3.82% of Private Trust Co Na’s portfolio.

Kellogg Company opened for trading at $75.07 and hit $75.35 on the upside on Friday, eventually ending the session at $75.28, with a gain of 0.39% or 0.29 points. The heightened volatility saw the trading volume jump to 12,10,576 shares. Company has a market cap of $26,367 M.

Other Hedge Funds, Including , New York State Teachers Retirement System reduced its stake in K by selling 281 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 414,002 shares of K which is valued at $31,166,071. Kellogg Company makes up approx 0.08% of New York State Teachers Retirement System’s portfolio.Trust Co Of Toledo Na Oh boosted its stake in K in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 5,841 shares of Kellogg Company which is valued at $452,970. Kellogg Company makes up approx 0.14% of Trust Co Of Toledo Na Oh’s portfolio. Moon Capital Management sold out all of its stake in K during the most recent quarter. The investment firm sold 32,649 shares of K which is valued $2,531,930.Kanaly Trust Co boosted its stake in K in the latest quarter, The investment management firm added 45 additional shares and now holds a total of 1,537 shares of Kellogg Company which is valued at $119,194. Kellogg Company makes up approx 0.02% of Kanaly Trust Co’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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