Culbertson A N Co Inc Lowers stake in Kellogg Company (K)

Kellogg Company (K) : Culbertson A N Co Inc reduced its stake in Kellogg Company by 0.83% during the most recent quarter end. The investment management company now holds a total of 29,292 shares of Kellogg Company which is valued at $2,227,657 after selling 244 shares in Kellogg Company , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Kellogg Company makes up approximately 0.80% of Culbertson A N Co Inc’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in K by selling 847 shares or 1.3% in the most recent quarter. The Hedge Fund company now holds 64,392 shares of K which is valued at $4,915,685. Kellogg Company makes up approx 0.10% of Exxonmobil Investment Management Inc Tx’s portfolio.Chevy Chase Trust Holdings reduced its stake in K by selling 4,936 shares or 2.25% in the most recent quarter. The Hedge Fund company now holds 214,141 shares of K which is valued at $16,313,261. Kellogg Company makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.New England Research Management reduced its stake in K by selling 400 shares or 2.45% in the most recent quarter. The Hedge Fund company now holds 15,932 shares of K which is valued at $1,213,700. Kellogg Company makes up approx 1.02% of New England Research Management’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in K by selling 19,958 shares or 6.44% in the most recent quarter. The Hedge Fund company now holds 289,896 shares of K which is valued at $22,084,277. Kellogg Company makes up approx 0.09% of Bnp Paribas Arbitrage Sa’s portfolio.

Kellogg Company closed down -0.42 points or -0.55% at $76.05 with 16,17,671 shares getting traded on Tuesday. Post opening the session at $76.47, the shares hit an intraday low of $75.77 and an intraday high of $76.52 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Kellogg Company reported $0.91 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.91. The company had revenue of $3268.00 million for the quarter, compared to analysts expectations of $3362.13 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Citigroup on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .Company shares were Reiterated by Credit Suisse on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 94 from a previous price target of $84 .

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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