Kellogg (K) Position Reduced by Zevin Asset Management LLC

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Zevin Asset Management LLC lessened its position in Kellogg (NYSE:K) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,950 shares of the company’s stock after selling 300 shares during the quarter. Zevin Asset Management LLC’s holdings in Kellogg were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in K. Advisors Asset Management Inc. raised its holdings in shares of Kellogg by 69.0% during the second quarter. Advisors Asset Management Inc. now owns 17,188 shares of the company’s stock valued at $1,201,000 after acquiring an additional 7,015 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Kellogg by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock valued at $372,017,000 after acquiring an additional 1,076,748 shares during the last quarter. Atria Investments LLC raised its holdings in shares of Kellogg by 91.7% during the third quarter. Atria Investments LLC now owns 9,082 shares of the company’s stock valued at $636,000 after acquiring an additional 4,345 shares during the last quarter. DNB Asset Management AS raised its holdings in shares of Kellogg by 6.0% during the third quarter. DNB Asset Management AS now owns 43,911 shares of the company’s stock valued at $3,075,000 after acquiring an additional 2,476 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Kellogg by 20.5% during the third quarter. Bank of Montreal Can now owns 627,882 shares of the company’s stock valued at $43,964,000 after acquiring an additional 106,948 shares during the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.

In other news, Chairman Steven A. Cahillane purchased 17,825 shares of the stock in a transaction dated Monday, November 19th. The stock was acquired at an average cost of $61.63 per share, for a total transaction of $1,098,554.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Fareed A. Khan purchased 8,190 shares of the stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average price of $62.14 per share, with a total value of $508,926.60. The disclosure for this purchase can be found here. Insiders sold 680,000 shares of company stock valued at $40,102,200 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday. Credit Suisse Group set a $54.00 price target on Kellogg and gave the company a “hold” rating in a report on Saturday. TheStreet cut Kellogg from a “b-” rating to a “c” rating in a report on Thursday, February 7th. BMO Capital Markets cut their price target on Kellogg to $62.00 and set a “market perform” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. cut their price target on Kellogg to $56.00 and set a “neutral” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. Kellogg currently has an average rating of “Hold” and an average target price of $64.92.

Kellogg stock traded up $0.49 during mid-day trading on Tuesday, hitting $56.16. The company’s stock had a trading volume of 59,796 shares, compared to its average volume of 2,679,942. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.21 and a beta of 0.58. Kellogg has a 1 year low of $54.14 and a 1 year high of $74.98. 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 (NYSE:K) last issued its quarterly earnings data on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $3.32 billion during 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 firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. Analysts forecast that Kellogg will post 4.06 EPS for the current year.

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Kellogg Company Profile

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

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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