Kellogg (K) Shares Bought by First Financial Bank Trust Division

First Financial Bank Trust Division grew its position in Kellogg (NYSE:K) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,401 shares of the company’s stock after purchasing an additional 3,949 shares during the quarter. First Financial Bank Trust Division’s holdings in Kellogg were worth $3,006,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of K. Machina Capital S.A.S. purchased a new position in Kellogg in the 4th quarter worth about $485,000. Arbor Wealth Management LLC bought a new position in shares of Kellogg during the 4th quarter worth $114,000. Norges Bank bought a new stake in Kellogg during the fourth quarter valued at about $131,475,000. Teacher Retirement System of Texas boosted its holdings in Kellogg by 52.7% in the fourth quarter. Teacher Retirement System of Texas now owns 183,852 shares of the company’s stock worth $10,481,000 after acquiring an additional 63,481 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Kellogg in the fourth quarter worth about $286,000. 86.75% of the stock is currently owned by institutional investors.

K has been the subject of a number of recent analyst reports. TheStreet cut Kellogg from a “b-” rating to a “c” rating in a research report on Thursday, February 7th. Morgan Stanley set a $56.00 price objective on Kellogg and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Piper Jaffray Companies set a $69.00 price objective on Kellogg and gave the company a “buy” rating in a research report on Friday, February 8th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Kellogg in a research note on Friday, February 8th. Finally, Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.04.

NYSE:K traded down $0.56 on Wednesday, reaching $57.83. The company’s stock had a trading volume of 422,381 shares, compared to its average volume of 2,354,919. Kellogg has a 12-month low of $53.14 and a 12-month high of $74.98. The company has a quick ratio of 0.40, a current ratio of 0.70 and a debt-to-equity ratio of 2.60. The company has a market capitalization of $20.07 billion, a P/E ratio of 13.35, a P/E/G ratio of 3.30 and a beta of 0.54.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, February 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. Sell-side analysts anticipate that Kellogg will post 3.93 earnings per share for the current fiscal year.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $54.76, for a total transaction of $5,476,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 600,000 shares of company stock valued at $33,655,000. Insiders own 0.09% of the company’s stock.

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About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

Further Reading: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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