Sawyer & Company Inc Takes $170,000 Position in Kellogg (K)

Sawyer & Company Inc purchased a new stake in shares of Kellogg (NYSE:K) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,506 shares of the company’s stock, valued at approximately $170,000.

A number of other institutional investors have also added to or reduced their stakes in K. CLS Investments LLC purchased a new stake in shares of Kellogg in the third quarter valued at $124,000. Fruth Investment Management purchased a new stake in shares of Kellogg in the fourth quarter valued at $201,000. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of Kellogg in the second quarter valued at $222,000. Cetera Investment Advisers purchased a new stake in shares of Kellogg in the second quarter valued at $231,000. Finally, FDO Partners LLC purchased a new stake in shares of Kellogg in the third quarter valued at $219,000. 89.61% of the stock is currently owned by institutional investors.

Kellogg (NYSE:K) opened at $65.98 on Friday. The company has a market cap of $22,770.00, a PE ratio of 29.46, a P/E/G ratio of 2.61 and a beta of 0.52. Kellogg has a 12 month low of $58.76 and a 12 month high of $76.69. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71.

Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. analysts forecast that Kellogg will post 4.03 earnings per share for the current fiscal year.

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

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.27%. The ex-dividend date was Thursday, November 30th. Kellogg’s dividend payout ratio is presently 96.43%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $65.14, for a total transaction of $5,120,394.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Donald R. Knauss sold 6,846 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total transaction of $428,354.22. Following the transaction, the director now owns 5,000 shares in the company, valued at $312,850. The disclosure for this sale can be found here. Insiders sold a total of 349,754 shares of company stock worth $22,304,119 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Several equities research analysts have recently weighed in on the stock. DZ Bank downgraded shares of Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, December 8th. Argus raised shares of Kellogg from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Wednesday, November 22nd. UBS Group reduced their target price on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Buckingham Research reduced their target price on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada raised their price target on shares of Kellogg from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and a consensus target price of $71.15.

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Kellogg Company 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.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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