Charter Trust Co Lowers stake in Kellogg Company (K)

Kellogg Company (K) : Charter Trust Co reduced its stake in Kellogg Company by 0.62% during the most recent quarter end. The investment management company now holds a total of 79,683 shares of Kellogg Company which is valued at $6,554,724 after selling 498 shares in Kellogg Company , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Kellogg Company makes up approximately 0.74% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , Private Trust Co Na boosted its stake in K in the latest quarter, The investment management firm added 382 additional shares and now holds a total of 190,444 shares of Kellogg Company which is valued at $15,665,923. Kellogg Company makes up approx 3.97% of Private Trust Co Na’s portfolio.Benjamin F. Edwards Company reduced its stake in K by selling 992 shares or 13.15% in the most recent quarter. The Hedge Fund company now holds 6,549 shares of K which is valued at $544,287. Kellogg Company makes up approx 0.10% of Benjamin F. Edwards Company’s portfolio.Chevy Chase Trust Holdings boosted its stake in K in the latest quarter, The investment management firm added 2,397 additional shares and now holds a total of 219,077 shares of Kellogg Company which is valued at $18,104,523. Kellogg Company makes up approx 0.10% of Chevy Chase Trust Holdings’s portfolio.Next Financial Group Inc boosted its stake in K in the latest quarter, The investment management firm added 55 additional shares and now holds a total of 693 shares of Kellogg Company which is valued at $57,270. Kellogg Company makes up approx 0.02% of Next Financial Group Inc’s portfolio.West Oak Capital boosted its stake in K in the latest quarter, The investment management firm added 754 additional shares and now holds a total of 2,754 shares of Kellogg Company which is valued at $227,591. Kellogg Company makes up approx 0.16% of West Oak Capital’s portfolio.

Kellogg Company closed down -4.72 points or -5.43% at $82.26 with 83,05,049 shares getting traded on Wednesday. Post opening the session at $86.9, the shares hit an intraday low of $82.19 and an intraday high of $87 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Kellogg Company reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.94. The company had revenue of $3395.00 million for the quarter, compared to analysts expectations of $3466.55 million. The company’s revenue was down -4.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Credit Suisse on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 94 from a previous price target of $84 .

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. The Company’s cereal products are generally marketed under the Kellogg’s name and are sold to the grocery trade through direct sales forces for resale to consumers. The Company also markets cookies crackers crisps and other convenience foods under brands such as Kellogg’s Keebler Cheez-It Murray Austin and Famous Amos to supermarkets in the United States through a direct store-door (DSD) delivery system although other distribution methods are also used. The Company uses broker and distributor arrangements for certain products. It also uses similar arrangements in less-developed market areas or in those market areas outside of its focus.

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