Candriam Luxembourg S.C.A. Grows Stock Position in Kellogg (NYSE:K)

Candriam Luxembourg S.C.A. lifted its stake in shares of Kellogg (NYSE:K) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,256 shares of the company’s stock after purchasing an additional 25,212 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Kellogg were worth $5,620,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. raised its position in Kellogg by 5.2% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,343 shares of the company’s stock worth $231,000 after acquiring an additional 166 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of Kellogg by 3.2% in the third quarter. Moors & Cabot Inc. now owns 6,501 shares of the company’s stock valued at $418,000 after buying an additional 200 shares in the last quarter. Financial Architects Inc increased its position in shares of Kellogg by 40.0% in the third quarter. Financial Architects Inc now owns 700 shares of the company’s stock valued at $45,000 after buying an additional 200 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in shares of Kellogg by 16.6% in the third quarter. Capital Investment Advisory Services LLC now owns 1,418 shares of the company’s stock valued at $91,000 after buying an additional 202 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Kellogg by 7.2% in the fourth quarter. Advisory Services Network LLC now owns 3,472 shares of the company’s stock valued at $240,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.

K opened at $67.14 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.72 and a debt-to-equity ratio of 2.30. The firm has a market cap of $22.29 billion, a P/E ratio of 23.98, a PEG ratio of 3.89 and a beta of 0.55. Kellogg has a 52 week low of $51.34 and a 52 week high of $71.05. The business’s fifty day simple moving average is $68.58 and its 200 day simple moving average is $64.92.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Kellogg had a return on equity of 41.84% and a net margin of 7.07%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities analysts expect that Kellogg will post 3.82 EPS for the current fiscal year.

A number of brokerages have recently weighed in on K. Buckingham Research raised their price target on Kellogg from $71.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group began coverage on Kellogg in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $74.00 price target for the company. Credit Suisse Group upgraded Kellogg from a “neutral” rating to an “outperform” rating and raised their price target for the company from $60.00 to $78.00 in a research report on Tuesday, January 7th. ValuEngine cut Kellogg from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Evercore ISI restated a “hold” rating and issued a $65.00 price target on shares of Kellogg in a research report on Sunday, February 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.93.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $66.71, for a total transaction of $6,671,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven A. Cahillane acquired 16,810 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average cost of $65.33 per share, for a total transaction of $1,098,197.30. Following the purchase, the chief executive officer now owns 50,565 shares of the company’s stock, valued at $3,303,411.45. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 600,000 shares of company stock worth $40,410,000. Corporate insiders own 0.09% of the company’s stock.

Kellogg Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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