Integrated Wealth Management Lowers stake in Kellogg Company (K)

Kellogg Company (K) : Integrated Wealth Management reduced its stake in Kellogg Company by 0.77% during the most recent quarter end. The investment management company now holds a total of 23,952 shares of Kellogg Company which is valued at $1,942,028 after selling 185 shares in Kellogg Company , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Kellogg Company makes up approximately 0.74% of Integrated Wealth Management’s portfolio.

Other Hedge Funds, Including , Jnba Financial Advisors reduced its stake in K by selling 81 shares or 21.32% in the most recent quarter. The Hedge Fund company now holds 299 shares of K which is valued at $24,775. Kellogg Company makes up approx 0.01% of Jnba Financial Advisors’s portfolio.Murphy Capital Management Inc reduced its stake in K by selling 800 shares or 9.64% in the most recent quarter. The Hedge Fund company now holds 7,500 shares of K which is valued at $616,950. Kellogg Company makes up approx 0.09% of Murphy Capital Management Inc’s portfolio.

Kellogg Company opened for trading at $82.44 and hit $84.1 on the upside on Thursday, eventually ending the session at $82.42, with a gain of 1.65% or 1.34 points. The heightened volatility saw the trading volume jump to 26,52,177 shares. Company has a market cap of $28,851 M.

On the company’s financial health, Kellogg Company reported $0.91 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.91. The company had revenue of $3268.00 million for the quarter, compared to analysts expectations of $3362.13 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 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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