Westpac Banking Corp Sells 1,689 Shares of Kellogg (K)

Westpac Banking Corp lessened its stake in Kellogg (NYSE:K) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 212,645 shares of the company’s stock after selling 1,689 shares during the quarter. Westpac Banking Corp owned 0.06% of Kellogg worth $12,123,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in K. Ceredex Value Advisors LLC lifted its stake in Kellogg by 327.2% during the fourth quarter. Ceredex Value Advisors LLC now owns 2,077,844 shares of the company’s stock worth $118,457,000 after purchasing an additional 1,591,469 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Kellogg by 5,672.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock worth $28,000 after purchasing an additional 1,541,399 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $372,017,000 after purchasing an additional 1,076,748 shares during the last quarter. Morgan Stanley lifted its stake in Kellogg by 70.2% during the third quarter. Morgan Stanley now owns 1,730,012 shares of the company’s stock worth $121,137,000 after purchasing an additional 713,311 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in Kellogg by 3.4% during the third quarter. Vanguard Group Inc now owns 21,245,966 shares of the company’s stock worth $1,487,643,000 after purchasing an additional 696,685 shares during the last quarter. Institutional investors and hedge funds own 87.01% of the company’s stock.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $59.94, for a total value of $5,994,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 500,000 shares of company stock worth $28,899,000. Corporate insiders own 1.40% of the company’s stock.

Several equities research analysts recently weighed in on the company. TheStreet cut Kellogg from a “b-” rating to a “c” rating in a research note on Thursday, February 7th. ValuEngine cut Kellogg from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Citigroup cut their price target on Kellogg from $87.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Credit Suisse Group cut their price target on Kellogg from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, November 1st. Finally, Piper Jaffray Companies set a $69.00 price target on Kellogg and gave the stock a “buy” rating in a research report on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $64.92.

K traded up $1.00 during trading on Tuesday, hitting $57.79. 886,637 shares of the stock were exchanged, compared to its average volume of 2,899,044. The firm has a market cap of $19.71 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.58. Kellogg has a 1-year low of $54.14 and a 1-year high of $74.98. The company has a quick ratio of 0.40, a current ratio of 0.70 and a debt-to-equity ratio of 2.60.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities analysts expect that Kellogg will post 3.99 EPS for the current fiscal year.

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Kellogg 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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