Whittier Trust Co. of Nevada Inc. Has $148,000 Stake in Kellogg Company (NYSE:K)

Whittier Trust Co. of Nevada Inc. decreased its position in Kellogg Company (NYSE:K) by 8.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,125 shares of the company’s stock after selling 190 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Kellogg were worth $148,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Kellogg by 2,851.0% in the first quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock worth $1,464,385,000 after buying an additional 19,484,390 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Kellogg by 891.0% in the first quarter. Ameriprise Financial Inc. now owns 2,401,808 shares of the company’s stock worth $174,393,000 after buying an additional 2,159,450 shares in the last quarter. Renaissance Technologies LLC raised its stake in Kellogg by 73.4% in the first quarter. Renaissance Technologies LLC now owns 3,157,600 shares of the company’s stock worth $229,273,000 after buying an additional 1,336,400 shares in the last quarter. Vanguard Group Inc. raised its stake in Kellogg by 6.6% in the first quarter. Vanguard Group Inc. now owns 20,273,984 shares of the company’s stock worth $1,472,094,000 after buying an additional 1,248,613 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Kellogg by 254.0% in the first quarter. Schroder Investment Management Group now owns 862,266 shares of the company’s stock worth $62,549,000 after buying an additional 618,694 shares in the last quarter. Institutional investors own 83.30% of the company’s stock.

Shares of Kellogg Company (NYSE:K) traded up 0.70% during mid-day trading on Friday, reaching $67.22. 1,462,427 shares of the company’s stock traded hands. Kellogg Company has a 12-month low of $65.32 and a 12-month high of $84.28. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 30.42 and a beta of 0.50. The stock has a 50-day moving average price of $69.77 and a 200 day moving average price of $71.99.

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

K has been the subject of a number of analyst reports. BidaskClub lowered shares of Kellogg from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Zacks Investment Research lowered shares of Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $80.00 target price (down from $82.00) on shares of Kellogg in a report on Tuesday, April 25th. TheStreet upgraded shares of Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Finally, Credit Suisse Group dropped their target price on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and an average price target of $77.82.

In other news, Director John T. Dillon sold 4,900 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Jenness sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was 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. Over the last three months, insiders sold 99,900 shares of company stock valued at $7,178,363. 1.30% of the stock is owned by corporate insiders.

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.

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