3,584 Shares in Kellogg Company (K) Purchased by Valeo Financial Advisors LLC
Valeo Financial Advisors LLC acquired a new stake in Kellogg Company (NYSE:K) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,584 shares of the company’s stock, valued at approximately $224,000.
Other hedge funds have also made changes to their positions in the company. CLS Investments LLC acquired a new position in shares of Kellogg in the third quarter valued at approximately $124,000. Koch Industries Inc. acquired a new position in Kellogg during the 2nd quarter worth approximately $217,000. FDO Partners LLC acquired a new position in Kellogg during the 3rd quarter worth approximately $219,000. Raab & Moskowitz Asset Management LLC acquired a new position in Kellogg during the 2nd quarter worth approximately $222,000. Finally, Cetera Investment Advisers acquired a new position in Kellogg during the 2nd quarter worth approximately $231,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.
In related news, Director Donald R. Knauss sold 6,846 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total value of $428,354.22. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $312,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $65.00, for a total transaction of $207,675.00. The disclosure for this sale can be found here. Insiders have sold a total of 349,754 shares of company stock valued at $22,304,119 in the last 90 days. Insiders own 1.30% of the company’s stock.
Several research analysts have commented on the stock. Susquehanna Bancshares set a $71.00 price target on shares of Kellogg and gave the stock a “hold” rating in a report on Tuesday, October 31st. Morgan Stanley lowered their price target on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating for the company in a report on Friday, October 13th. Royal Bank of Canada set a $81.00 price target on shares of Kellogg and gave the stock a “hold” rating in a report on Wednesday, October 18th. Buckingham Research lowered their price target on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Finally, Credit Suisse Group lowered their price target on shares of Kellogg from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.15.
Shares of Kellogg Company (NYSE:K) traded down $0.60 during trading hours on Wednesday, hitting $65.95. 2,145,700 shares of the stock traded hands, compared to its average volume of 2,542,487. The stock has a market cap of $22,991.20, a P/E ratio of 16.64, a PEG ratio of 2.69 and a beta of 0.52. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 3.71. Kellogg Company has a twelve month low of $58.76 and a twelve month high of $76.69.
Kellogg (NYSE:K) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. equities research analysts expect that Kellogg Company will post 4.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.28%. Kellogg’s dividend payout ratio is presently 96.43%.
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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