Kellogg (K) Holdings Lifted by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. grew its stake in shares of Kellogg (NYSE:K) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,684 shares of the company’s stock after purchasing an additional 2,170 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Kellogg were worth $2,154,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CLS Investments LLC acquired a new position in shares of Kellogg during the 3rd quarter worth approximately $124,000. Sawyer & Company Inc acquired a new position in shares of Kellogg during the 4th quarter worth approximately $170,000. Fruth Investment Management acquired a new position in shares of Kellogg during the 4th quarter worth approximately $201,000. Saratoga Research & Investment Management acquired a new position in shares of Kellogg during the 4th quarter worth approximately $205,000. Finally, Appleton Partners Inc. MA acquired a new position in shares of Kellogg during the 4th quarter worth approximately $209,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Kellogg (NYSE:K) traded up $0.53 during trading hours on Monday, hitting $67.15. The stock had a trading volume of 1,585,181 shares, compared to its average volume of 3,269,469. The company has a market cap of $23,120.00, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 2.52 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71. Kellogg has a 1 year low of $58.76 and a 1 year high of $76.69.

Kellogg (NYSE:K) last released its earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. analysts expect that Kellogg will post 4.03 EPS for the current fiscal year.

Kellogg announced that its Board of Directors has authorized a stock repurchase program on Friday, December 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, Chairman John A. Bryant sold 190,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $63.01, for a total transaction of $11,971,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.14, for a total value of $5,120,394.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 349,754 shares of company stock valued at $22,304,119. Corporate insiders own 1.30% of the company’s stock.

K has been the topic of a number of recent analyst reports. Argus raised Kellogg from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Wednesday, November 22nd. Citigroup boosted their price target on Kellogg from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Buckingham Research reduced their price target on Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Morgan Stanley reduced their price target on Kellogg from $70.00 to $66.00 and set an “equal weight” rating for the company in a research note on Friday, October 13th. Finally, Piper Jaffray Companies set a $72.00 price target on Kellogg and gave the company a “hold” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.57.

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Kellogg Profile

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.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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