Rational Advisors LLC Buys Shares of 8,800 Kellogg Company (K)

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.

ILLEGAL ACTIVITY WARNING: “Rational Advisors LLC Buys Shares of 8,800 Kellogg Company (K)” was reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece of content can be accessed at https://transcriptdaily.com/2017/11/21/rational-advisors-llc-buys-shares-of-8800-kellogg-company-k.html.

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.

Want to see what other hedge funds are holding K? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kellogg Company (NYSE:K).

Institutional Ownership by Quarter for Kellogg (NYSE:K)

Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply