Culbertson A N & Co. Inc. boosted its position in Kellogg (NYSE:K) by 7.4% in the fourth quarter, HoldingsChannel reports. The firm owned 31,684 shares of the company’s stock after purchasing an additional 2,170 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Kellogg were worth $2,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of K. CLS Investments LLC acquired a new stake in shares of Kellogg in the third quarter valued at about $124,000. Sawyer & Company Inc acquired a new stake in shares of Kellogg in the fourth quarter valued at about $170,000. Fruth Investment Management acquired a new stake in shares of Kellogg in the fourth quarter valued at about $201,000. Saratoga Research & Investment Management acquired a new stake in shares of Kellogg in the fourth quarter valued at about $205,000. Finally, Appleton Partners Inc. MA acquired a new stake in shares of Kellogg in the fourth quarter valued at about $209,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on K shares. Royal Bank of Canada set a $81.00 price target on Kellogg and gave the company a “hold” rating in a research note on Wednesday, October 18th. Credit Suisse Group decreased their price target on Kellogg from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Argus raised Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Wednesday, November 22nd. Buckingham Research decreased their price target on Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Finally, Citigroup raised their target price on Kellogg from $86.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.57.

Shares of Kellogg (K) traded up $0.53 during trading hours on Monday, reaching $67.15. The company’s stock had a trading volume of 1,585,181 shares, compared to its average volume of 3,269,469. The company has a market capitalization of $23,120.00, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.52 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71. Kellogg has a 1-year low of $58.76 and a 1-year high of $76.69.

Kellogg (NYSE:K) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share. equities research analysts expect that Kellogg will post 4.03 earnings per share for the current year.

Kellogg declared that its Board of Directors has initiated a stock repurchase program on Friday, December 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In other news, CEO Steven A. Cahillane purchased 15,930 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were acquired at an average price of $62.70 per share, for a total transaction of $998,811.00. Following the completion of the acquisition, the chief executive officer now owns 15,930 shares in the company, valued at $998,811. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Donald R. Knauss sold 6,846 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total value of $428,354.22. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $312,850. The disclosure for this sale can be found here. In the last quarter, insiders sold 349,754 shares of company stock worth $22,304,119. Corporate insiders own 1.30% of the company’s stock.

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Kellogg 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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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