Brown Advisory Inc. Has $12.26 Million Holdings in Kellogg (K)

Brown Advisory Inc. raised its stake in Kellogg (NYSE:K) by 7.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,105 shares of the company’s stock after acquiring an additional 11,986 shares during the period. Brown Advisory Inc. owned approximately 0.05% of Kellogg worth $12,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Kellogg by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock worth $372,017,000 after buying an additional 1,076,748 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Kellogg during the 2nd quarter worth $65,600,000. Millennium Management LLC raised its holdings in shares of Kellogg by 61.8% during the 2nd quarter. Millennium Management LLC now owns 2,418,179 shares of the company’s stock worth $168,958,000 after buying an additional 923,365 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of Kellogg by 25,701.7% during the 2nd quarter. Putnam Investments LLC now owns 851,713 shares of the company’s stock worth $59,509,000 after buying an additional 848,412 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Kellogg by 211.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 943,292 shares of the company’s stock worth $66,005,000 after buying an additional 640,495 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the company. Wells Fargo & Co reissued a “hold” rating and set a $67.00 price target (up previously from $62.00) on shares of Kellogg in a report on Sunday, August 5th. Credit Suisse Group boosted their price target on Kellogg from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Argus lowered their price target on Kellogg from $85.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies set a $79.00 price target on Kellogg and gave the stock a “buy” rating in a report on Tuesday, October 16th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.22.

In related news, CFO Fareed A. Khan acquired 8,190 shares of the stock in a transaction dated Tuesday, November 20th. The stock was purchased at an average cost of $62.14 per share, with a total value of $508,926.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of the stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $69.72, for a total value of $14,292,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 600,000 shares of company stock worth $41,536,950. 1.40% of the stock is owned by company insiders.

Shares of Kellogg stock opened at $63.65 on Monday. Kellogg has a one year low of $56.40 and a one year high of $74.98. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.52 and a current ratio of 0.84. The stock has a market cap of $22.09 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.39 and a beta of 0.51.

Kellogg (NYSE:K) last announced its earnings results on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts expect that Kellogg will post 4.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Friday, November 30th. Kellogg’s dividend payout ratio (DPR) is currently 55.45%.

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About Kellogg

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

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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