Advisory Services Network LLC Trims Stake in Kellogg (K)

Advisory Services Network LLC decreased its position in Kellogg (NYSE:K) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,415 shares of the company’s stock after selling 759 shares during the quarter. Advisory Services Network LLC’s holdings in Kellogg were worth $252,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Acima Private Wealth LLC bought a new position in Kellogg during the fourth quarter worth $25,000. Bruderman Asset Management LLC lifted its stake in Kellogg by 275.0% in the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 319 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Kellogg by 5,672.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock valued at $28,000 after buying an additional 1,541,399 shares during the last quarter. Murphy Pohlad Asset Management LLC bought a new stake in Kellogg in the fourth quarter valued at $28,000. Finally, ERTS Wealth Advisors LLC bought a new stake in Kellogg in the fourth quarter valued at $34,000. 86.76% of the stock is owned by institutional investors.

Shares of K traded up $1.46 during trading hours on Friday, reaching $59.40. 2,039,623 shares of the company’s stock traded hands, compared to its average volume of 2,662,390. The firm has a market capitalization of $19.93 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 3.30 and a beta of 0.54. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.40 and a current ratio of 0.70. Kellogg has a twelve month low of $53.14 and a twelve month high of $74.98.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, February 7th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $0.96 earnings per share. Analysts forecast that Kellogg will post 3.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Friday, May 31st. Kellogg’s payout ratio is currently 51.73%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 600,000 shares of company stock worth $33,672,000. 0.09% of the stock is owned by corporate insiders.

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

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Kellogg Profile

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.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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