Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 724 Shares of Kellogg (K)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in Kellogg (NYSE:K) by 39.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,133 shares of the company’s stock after selling 724 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Kellogg were worth $65,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. JOYN Advisors Inc. lifted its stake in shares of Kellogg by 38.9% during the 4th quarter. JOYN Advisors Inc. now owns 660 shares of the company’s stock worth $38,000 after purchasing an additional 185 shares during the period. Sun Life Financial INC lifted its stake in shares of Kellogg by 0.9% during the 4th quarter. Sun Life Financial INC now owns 21,889 shares of the company’s stock worth $1,249,000 after purchasing an additional 199 shares during the period. Moody National Bank Trust Division lifted its stake in shares of Kellogg by 0.6% during the 4th quarter. Moody National Bank Trust Division now owns 34,785 shares of the company’s stock worth $1,983,000 after purchasing an additional 215 shares during the period. Northside Capital Management LLC lifted its stake in shares of Kellogg by 3.0% during the 4th quarter. Northside Capital Management LLC now owns 8,205 shares of the company’s stock worth $468,000 after purchasing an additional 241 shares during the period. Finally, Bell Rock Capital LLC lifted its stake in shares of Kellogg by 13.0% during the 1st quarter. Bell Rock Capital LLC now owns 2,161 shares of the company’s stock worth $125,000 after purchasing an additional 249 shares during the period. 86.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE K opened at $57.55 on Thursday. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.70 and a quick ratio of 0.40. The firm has a market capitalization of $19.66 billion, a P/E ratio of 13.29, a P/E/G ratio of 3.22 and a beta of 0.54. Kellogg has a 12-month low of $53.14 and a 12-month high of $74.98.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 EPS. On average, analysts forecast that Kellogg will post 3.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.89%. Kellogg’s payout ratio is currently 51.73%.

In other Kellogg 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 shares were sold at an average price of $54.76, for a total value of $5,476,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 500,000 shares of company stock valued at $27,938,000. 0.09% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Guggenheim began coverage on Kellogg in a report on Tuesday, January 22nd. They set a “neutral” rating and a $58.70 price objective for the company. Royal Bank of Canada restated a “hold” rating and set a $67.00 price objective on shares of Kellogg in a report on Wednesday, December 19th. Piper Jaffray Companies dropped their price objective on Kellogg from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Finally, Morgan Stanley set a $56.00 price objective on Kellogg and gave the stock a “hold” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Kellogg has a consensus rating of “Hold” and a consensus target price of $63.51.

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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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