Cambridge Investment Research Advisors Inc. Has $1.67 Million Position in Kellogg Company (K)
Cambridge Investment Research Advisors Inc. grew its stake in shares of Kellogg Company (NYSE:K) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,810 shares of the company’s stock after purchasing an additional 1,442 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Kellogg were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Washington Trust Bank raised its holdings in Kellogg by 0.8% during the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after purchasing an additional 15 shares in the last quarter. Alpha Windward LLC raised its holdings in Kellogg by 0.4% during the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after purchasing an additional 11 shares in the last quarter. Raab & Moskowitz Asset Management LLC acquired a new stake in Kellogg during the second quarter worth approximately $222,000. Parametrica Management Ltd acquired a new stake in Kellogg during the second quarter worth approximately $227,000. Finally, Cetera Investment Advisers acquired a new stake in Kellogg during the second quarter worth approximately $231,000. 86.85% of the stock is currently owned by institutional investors.
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In other news, Director Donald R. Knauss sold 6,846 shares of Kellogg stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total transaction of $428,354.22. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $312,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven A. Cahillane purchased 15,930 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were purchased at an average cost of $62.70 per share, with a total value of $998,811.00. Following the purchase, the chief executive officer now directly owns 15,930 shares in the company, valued at $998,811. The disclosure for this purchase can be found here. Insiders have sold a total of 223,438 shares of company stock worth $14,077,678 over the last 90 days. Insiders own 1.30% of the company’s stock.
A number of equities analysts have recently issued reports on K shares. Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. UBS AG lowered their target price on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Piper Jaffray Companies set a $78.00 target price on shares of Kellogg and gave the stock a “buy” rating in a research report on Monday, August 7th. BMO Capital Markets restated a “hold” rating and set a $78.00 target price on shares of Kellogg in a research report on Wednesday, September 6th. Finally, Bank of America Corporation restated an “underperform” rating and set a $66.00 target price (down from $72.00) on shares of Kellogg in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and a consensus price target of $71.00.
Kellogg Company (NYSE K) opened at $65.36 on Monday. Kellogg Company has a 1 year low of $58.76 and a 1 year high of $76.69. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43. The firm has a market cap of $22,580.09, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.64 and a beta of 0.49.
Kellogg (NYSE:K) last issued its earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. equities analysts anticipate 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. Shareholders of record on Friday, December 1st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.30%. Kellogg’s payout ratio is currently 96.43%.
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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