Northside Capital Management LLC Grows Stake in Kellogg (K)

Northside Capital Management LLC grew its position in Kellogg (NYSE:K) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,205 shares of the company’s stock after acquiring an additional 241 shares during the quarter. Northside Capital Management LLC’s holdings in Kellogg were worth $468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New England Research & Management Inc. raised its position in Kellogg by 33.5% in the fourth quarter. New England Research & Management Inc. now owns 17,573 shares of the company’s stock valued at $1,002,000 after purchasing an additional 4,413 shares during the period. State of Alaska Department of Revenue grew its stake in Kellogg by 15.1% during the 4th quarter. State of Alaska Department of Revenue now owns 90,154 shares of the company’s stock worth $5,138,000 after purchasing an additional 11,859 shares in the last quarter. Highwater Wealth Management LLC acquired a new position in Kellogg during the 4th quarter worth $70,000. CENTRAL TRUST Co grew its stake in Kellogg by 44.7% during the 4th quarter. CENTRAL TRUST Co now owns 35,596 shares of the company’s stock worth $2,030,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Shares of Kellogg stock traded up $0.07 on Monday, hitting $58.65. The stock had a trading volume of 866,218 shares, compared to its average volume of 1,992,660. Kellogg has a 52-week low of $55.11 and a 52-week high of $74.98. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.52 and a current ratio of 0.84. The company has a market capitalization of $20.11 billion, a P/E ratio of 14.52, a PEG ratio of 2.19 and a beta of 0.61.

Kellogg (NYSE:K) last posted its earnings results on Wednesday, October 31st. The company reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts forecast that Kellogg will post 4.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Friday, November 30th. Kellogg’s payout ratio is currently 55.45%.

Several research analysts have recently issued reports on K shares. Buckingham Research lowered their price objective on Kellogg from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Zacks Investment Research raised Kellogg from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Deutsche Bank set a $66.00 price objective on Kellogg and gave the stock a “hold” rating in a research report on Wednesday, November 14th. Credit Suisse Group lowered their price objective on Kellogg from $70.00 to $66.00 and set a “hold” rating for the company in a research report on Wednesday, November 14th. Finally, ValuEngine raised Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $69.94.

In related news, CFO Fareed A. Khan acquired 8,190 shares of Kellogg stock in a transaction on Tuesday, November 20th. The stock was purchased at an average cost of $62.14 per share, with a total value of $508,926.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $58.24, for a total value of $5,824,000.00. The disclosure for this sale can be found here. Insiders sold a total of 480,000 shares of company stock valued at $28,790,200 over the last three months. Company insiders own 1.40% of the company’s stock.

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About Kellogg

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.

See Also: Net Asset Value

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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