November 25, 2016 - By Marguerite Chambers · 0 Comments
Kellogg Co (NYSE:K) institutional sentiment decreased to 0.93 in Q2 2016. Its down -0.28, from 1.21 in 2016Q1. The ratio has dropped, as 297 hedge funds started new and increased positions, while 245 reduced and sold stock positions in Kellogg Co. The hedge funds in our partner’s database now have: 282.08 million shares, down from 287.15 million shares in 2016Q1. Also, the number of hedge funds holding Kellogg Co in their top 10 positions increased from 7 to 9 for an increase of 2. Sold All: 50 Reduced: 195 Increased: 233 New Position: 64.
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The company has a market cap of $25.61 billion. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. It has a 37.25 P/E ratio. The Company’s divisions include U.S.
About 173,849 shares traded hands. Kellogg Company (NYSE:K) has declined 2.51% since April 22, 2016 and is downtrending. It has underperformed by 7.92% the S&P500.
Analysts await Kellogg Company (NYSE:K) to report earnings on February, 9. They expect $0.86 EPS, up 8.86% or $0.07 from last year’s $0.79 per share. K’s profit will be $297.31M for 21.53 P/E if the $0.86 EPS becomes a reality. After $0.96 actual EPS reported by Kellogg Company for the previous quarter, Wall Street now forecasts -10.42% negative EPS growth.
According to Zacks Investment Research, “Kellogg Company is the world’s leading producer of cereal and a leading producer of convenience foods, including cookies, crackers, toaster pastries, cereal bars, frozen waffles, meat alternatives, pie crusts, and ice cream cones. The company’s brands include Kellogg’s, Keebler, Pop-Tarts, Eggo, Cheez-It, Nutri-Grain, Rice Krispies, Murray, Austin, Morningstar Farms, Famous Amos, Carr’s, Plantation, Ready Crust, and Kashi. Kellogg products are manufactured in 19 countries and marketed in more than 160 countries around the world.”
Kellogg W K Foundation Trust holds 97.2% of its portfolio in Kellogg Company for 68.70 million shares. Keybank National Association Oh owns 26.39 million shares or 14.05% of their US portfolio. Moreover, Jericho Capital Asset Management L.P. has 10.3% invested in the company for 2.29 million shares. The Ohio-based Private Trust Co Na has invested 4.04% in the stock. Alethea Capital Management Llc, a California-based fund reported 29,127 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 15 sales for $104.52 million net activity.
Ratings analysis reveals 46% of Kellogg Company’s analysts are positive. Out of 13 Wall Street analysts rating Kellogg Company, 6 give it “Buy”, 0 “Sell” rating, while 7 recommend “Hold”. The lowest target is $69 while the high is $100. The stock’s average target of $80.25 is 8.33% above today’s ($74.08) share price. K was included in 25 notes of analysts from August 5, 2015. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, August 5 report. The rating was initiated by Susquehanna with “Neutral” on Monday, October 26. Credit Suisse upgraded Kellogg Company (NYSE:K) on Monday, November 23 to “Outperform” rating. On Friday, August 5 the stock rating was maintained by Citigroup with “Buy”. On Wednesday, August 5 the stock rating was upgraded by Societe Generale to “Hold”. The rating was maintained by Citigroup on Thursday, April 14 with “Buy”. The firm has “Outperform” rating by Credit Agricole given on Friday, January 8. CLSA upgraded the shares of K in a report on Friday, January 8 to “Outperform” rating. The company was upgraded on Wednesday, November 4 by Credit Suisse. The rating was upgraded by Citigroup to “Buy” on Wednesday, August 5.
Kellogg Company, incorporated on December 11, 1922, is a maker 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. The Company’s divisions include U.S. Morning Foods; U.S. Snacks; U.S. Specialty; North America Other; Europe; Latin America, and Asia Pacific. The U.S. Morning Foods operating segment includes cereal, toaster pastries, health and wellness bars, and beverages. The U.S. Snacks segment includes cookies, crackers, cereal bars, savory snacks and fruit-flavored snacks. The Company’s U.S. Specialty segment primarily represents food away from home channels, including food service, convenience, vending, Girl Scouts and food manufacturing. The North America Other segment includes the U.S. Frozen, Kashi and Canada operating divisions. The Company’s Europe segment consists principally of European countries; Latin America segment consists of Central and South America and includes Mexico, and Asia Pacific segment consists of Sub-Saharan Africa, Australia and other Asian and Pacific markets.
More recent Kellogg Company (NYSE:K) news were published by: Prnewswire.com which released: “Highly Anticipated Cereal Hits Shelves — Kellogg’s® Unveils New Cinnamon …” on November 15, 2016. Also Prnewswire.com published the news titled: “Kellogg Company Reports Third Quarter 2016 Results” on November 01, 2016. Prnewswire.com‘s news article titled: “Make, Share, Give With Kellogg’s® Rice Krispies® This Holiday Season” with publication date: November 17, 2016 was also an interesting one.
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By Marguerite Chambers