Charter Trust Co. Sells 2,208 Shares of Kellogg (NYSE:K)

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Charter Trust Co. reduced its stake in shares of Kellogg (NYSE:K) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,590 shares of the company’s stock after selling 2,208 shares during the period. Charter Trust Co.’s holdings in Kellogg were worth $2,960,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bruderman Asset Management LLC increased its holdings in shares of Kellogg by 275.0% in the fourth quarter. Bruderman Asset Management LLC now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 319 shares in the last quarter. Acima Private Wealth LLC bought a new stake in shares of Kellogg in the fourth quarter worth about $25,000. Murphy Pohlad Asset Management LLC bought a new stake in shares of Kellogg in the fourth quarter worth about $28,000. ERTS Wealth Advisors LLC bought a new stake in shares of Kellogg in the fourth quarter worth about $34,000. Finally, Capital Financial Planning LLC bought a new stake in shares of Kellogg in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 87.21% of the company’s stock.

Several research analysts recently commented on the company. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. Morgan Stanley set a $56.00 price target on Kellogg and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Piper Jaffray Companies cut their price objective on Kellogg from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, April 5th. Finally, ValuEngine raised Kellogg from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Kellogg presently has an average rating of “Hold” and an average target price of $62.98.

Kellogg stock opened at $55.66 on Wednesday. Kellogg has a one year low of $51.34 and a one year high of $74.98. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.41 and a current ratio of 0.68. The firm has a market cap of $19.06 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 3.21 and a beta of 0.64.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.06. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the company posted $1.19 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts expect that Kellogg will post 3.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Friday, May 31st. This represents a $2.24 dividend on an annualized basis and a yield of 4.02%. Kellogg’s dividend payout ratio is currently 51.73%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $57.17, for a total transaction of $5,717,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 600,000 shares of company stock worth $33,937,000 in the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

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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. 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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