Pathstone Family Office LLC Takes Position in Kellogg Company (K)

Pathstone Family Office LLC purchased a new position in shares of Kellogg Company (NYSE:K) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,964 shares of the company’s stock, valued at approximately $143,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Independent Advisor Alliance acquired a new position in shares of Kellogg Company during the fourth quarter worth about $116,000. Exane Derivatives boosted its position in shares of Kellogg Company by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares during the period. Security National Trust Co. boosted its position in shares of Kellogg Company by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock worth $150,000 after buying an additional 139 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Kellogg Company by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares during the period. Finally, Enterprise Financial Services Corp boosted its position in shares of Kellogg Company by 6.8% in the first quarter. Enterprise Financial Services Corp now owns 2,352 shares of the company’s stock worth $170,000 after buying an additional 149 shares during the period. 83.70% of the stock is owned by institutional investors.

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

Shares of Kellogg Company (K) opened at 70.56 on Friday. The stock has a 50 day moving average of $71.70 and a 200-day moving average of $72.80. The company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 31.93 and a beta of 0.49. Kellogg Company has a 52 week low of $68.67 and a 52 week high of $87.16.

Kellogg Company (NYSE:K) last announced its quarterly earnings data on Thursday, May 4th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.28 billion. Kellogg Company had a net margin of 6.07% and a return on equity of 67.99%. Kellogg Company’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. On average, analysts anticipate that Kellogg Company will post $3.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Tuesday, May 30th. Kellogg Company’s payout ratio is currently 94.55%.

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Several brokerages have issued reports on K. Susquehanna Bancshares Inc set a $78.00 target price on shares of Kellogg Company and gave the stock a “hold” rating in a report on Wednesday, June 14th. BidaskClub cut shares of Kellogg Company from a “sell” rating to a “strong sell” rating in a report on Friday. Zacks Investment Research raised shares of Kellogg Company from a “sell” rating to a “hold” rating in a report on Monday, June 12th. Piper Jaffray Companies began coverage on shares of Kellogg Company in a report on Wednesday, May 24th. They issued an “overweight” rating and a $78.00 target price for the company. Finally, Credit Suisse Group decreased their target price on shares of Kellogg Company from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Kellogg Company currently has an average rating of “Hold” and a consensus target price of $81.33.

In related news, Director John T. Dillon sold 4,900 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total value of $352,163.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Jenness sold 70,000 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $71.06, for a total transaction of $4,974,200.00. The disclosure for this sale can be found here. Insiders sold a total of 99,900 shares of company stock valued at $7,178,363 over the last ninety days. 1.30% of the stock is currently owned by insiders.

About Kellogg Company

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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