Rational Advisors LLC acquired a new stake in shares of Kellogg Company (NYSE:K) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,800 shares of the company’s stock, valued at approximately $549,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in Kellogg by 94.3% during the 2nd quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after acquiring an additional 3,807,425 shares during the period. CIBC World Markets Inc. boosted its holdings in Kellogg by 29.1% during the 2nd quarter. CIBC World Markets Inc. now owns 33,225 shares of the company’s stock valued at $2,308,000 after acquiring an additional 7,487 shares during the period. Cim Investment Mangement Inc. purchased a new position in Kellogg during the 2nd quarter valued at $563,000. Pacer Advisors Inc. boosted its holdings in Kellogg by 157.0% during the 2nd quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock valued at $950,000 after acquiring an additional 8,353 shares during the period. Finally, Dupont Capital Management Corp purchased a new position in Kellogg during the 2nd quarter valued at $268,000. Institutional investors own 86.85% of the company’s stock.
Shares of Kellogg Company (K) traded down $0.85 during mid-day trading on Tuesday, hitting $64.71. The stock had a trading volume of 1,485,305 shares, compared to its average volume of 2,534,063. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. The firm has a market capitalization of $22,580.09, a price-to-earnings ratio of 16.34, a PEG ratio of 2.64 and a beta of 0.49. Kellogg Company has a fifty-two week low of $58.76 and a fifty-two week high of $76.69.
Kellogg (NYSE:K) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. equities analysts expect that Kellogg Company will post 4.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.34%. Kellogg’s payout ratio is 96.43%.
In other Kellogg news, CEO Steven A. Cahillane purchased 15,930 shares of the stock in a transaction on Thursday, November 2nd. The shares were bought at an average price of $62.70 per share, for a total transaction of $998,811.00. Following the completion of the transaction, the chief executive officer now owns 15,930 shares of the company’s stock, valued at approximately $998,811. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Jenness sold 26,592 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $63.08, for a total value of $1,677,423.36. The disclosure for this sale can be found here. Insiders sold 223,438 shares of company stock worth $14,077,678 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Several brokerages have weighed in on K. UBS AG lowered their target price on Kellogg from $72.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Buckingham Research lowered their target price on Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Royal Bank Of Canada upped their target price on Kellogg from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 1st. Piper Jaffray Companies set a $72.00 target price on Kellogg and gave the stock a “hold” rating in a report on Tuesday, October 31st. Finally, Susquehanna Bancshares Inc set a $71.00 target price on Kellogg and gave the stock a “hold” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $71.00.
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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