Investors Sell Shares of Kellogg (K) on Strength (K)

Traders sold shares of Kellogg (NYSE:K) on strength during trading hours on Thursday. $62.51 million flowed into the stock on the tick-up and $97.74 million flowed out of the stock on the tick-down, for a money net flow of $35.23 million out of the stock. Of all stocks tracked, Kellogg had the 3rd highest net out-flow for the day. Kellogg traded up $1.77 for the day and closed at $65.98

A number of analysts recently commented on K shares. Citigroup upped their price objective on shares of Kellogg from $86.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. UBS Group lowered their price objective on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Credit Suisse Group upped their price objective on shares of Kellogg from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday. Argus upgraded Kellogg from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Wednesday, November 22nd. Finally, Piper Jaffray Companies set a $72.00 target price on Kellogg and gave the stock a “hold” rating in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $73.27.

The company has a market capitalization of $22,770.00, a price-to-earnings ratio of 29.46, a PEG ratio of 2.43 and a beta of 0.47. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43.

Kellogg (NYSE:K) last released its earnings results on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.96. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. analysts anticipate that Kellogg will post 4.04 earnings per share for the current year.

Kellogg declared that its Board of Directors has authorized a stock buyback plan on Friday, December 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $65.11, for a total value of $2,898,371.65. Following the completion of the transaction, the insider now owns 67,887,323 shares in the company, valued at approximately $4,420,143,600.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $65.00, for a total value of $207,675.00. The disclosure for this sale can be found here. Insiders sold a total of 306,316 shares of company stock valued at $20,381,841 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Calton & Associates Inc. acquired a new stake in Kellogg in the 4th quarter valued at about $112,000. Resources Investment Advisors Inc. lifted its stake in Kellogg by 65.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,859 shares of the company’s stock valued at $127,000 after purchasing an additional 737 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Kellogg in the 4th quarter valued at about $128,000. CLS Investments LLC acquired a new stake in Kellogg in the 3rd quarter valued at about $124,000. Finally, Sawyer & Company Inc acquired a new stake in Kellogg in the 4th quarter valued at about $170,000. Institutional investors own 89.92% of the company’s stock.

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Kellogg Company 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.

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