Kellogg (K) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of Kellogg (NYSE:K) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,535 shares of the company’s stock after selling 3,856 shares during the period. M&T Bank Corp’s holdings in Kellogg were worth $1,855,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Advisors Asset Management Inc. increased its holdings in Kellogg by 69.0% during the second quarter. Advisors Asset Management Inc. now owns 17,188 shares of the company’s stock valued at $1,201,000 after buying an additional 7,015 shares during the period. Bank of New York Mellon Corp increased its holdings in Kellogg by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock valued at $372,017,000 after buying an additional 1,076,748 shares during the period. Atria Investments LLC increased its holdings in Kellogg by 91.7% during the third quarter. Atria Investments LLC now owns 9,082 shares of the company’s stock valued at $636,000 after buying an additional 4,345 shares during the period. DNB Asset Management AS increased its holdings in Kellogg by 6.0% during the third quarter. DNB Asset Management AS now owns 43,911 shares of the company’s stock valued at $3,075,000 after buying an additional 2,476 shares during the period. Finally, Bank of Montreal Can increased its holdings in Kellogg by 20.5% during the third quarter. Bank of Montreal Can now owns 627,882 shares of the company’s stock valued at $43,964,000 after buying an additional 106,948 shares during the period. 87.01% of the stock is owned by institutional investors.

Several brokerages recently issued reports on K. ValuEngine raised shares of Kellogg from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Piper Jaffray Companies set a $79.00 target price on shares of Kellogg and gave the company a “buy” rating in a research note on Tuesday, October 16th. Citigroup lowered their target price on shares of Kellogg from $87.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Finally, Buckingham Research lowered their target price on shares of Kellogg from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.92.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Fareed A. Khan purchased 8,190 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was bought at an average price of $62.14 per share, with a total value of $508,926.60. The disclosure for this purchase can be found here. Over the last three months, insiders sold 680,000 shares of company stock worth $40,102,200. Insiders own 1.40% of the company’s stock.

K opened at $56.53 on Wednesday. The stock has a market cap of $19.21 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 2.21 and a beta of 0.58. Kellogg has a twelve month low of $54.14 and a twelve month high of $74.98. The company has a current ratio of 0.70, a quick ratio of 0.40 and a debt-to-equity ratio of 2.60.

Kellogg (NYSE:K) last posted its earnings results on Thursday, February 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Kellogg had a net margin of 9.86% and a return on equity of 47.10%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the business posted $0.96 EPS. Kellogg’s revenue was up 4.1% on a year-over-year basis. Equities analysts predict that Kellogg will post 4.06 EPS for the current year.

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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. 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.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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