Quantbot Technologies LP Takes $4.24 Million Position in Kellogg Company (K)

Quantbot Technologies LP purchased a new position in Kellogg Company (NYSE:K) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,954 shares of the company’s stock, valued at approximately $4,238,000.

A number of other institutional investors and hedge funds also recently modified their holdings of K. Wellington Management Group LLP purchased a new stake in shares of Kellogg during the first quarter worth about $1,561,000. Dimensional Fund Advisors LP grew its position in shares of Kellogg by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 576,576 shares of the company’s stock worth $41,865,000 after purchasing an additional 10,032 shares in the last quarter. Creative Planning grew its position in shares of Kellogg by 3.0% during the second quarter. Creative Planning now owns 17,466 shares of the company’s stock worth $1,213,000 after purchasing an additional 511 shares in the last quarter. Exane Derivatives grew its position in shares of Kellogg by 24.2% during the second quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after purchasing an additional 448 shares in the last quarter. Finally, CWM LLC grew its position in shares of Kellogg by 5.3% during the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

In other news, Chairman John A. Bryant sold 190,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $63.01, for a total value of $11,971,900.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Donald R. Knauss sold 6,846 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was 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 $312,850. The disclosure for this sale can be found here. Insiders sold a total of 223,438 shares of company stock valued at $14,077,678 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Kellogg Company (NYSE K) traded up $1.14 during trading hours on Thursday, hitting $64.88. The stock had a trading volume of 790,387 shares, compared to its average volume of 2,515,616. The company has a market cap of $22,300.00, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.49. 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.

Kellogg (NYSE:K) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. The business had revenue of $3.27 billion during 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 for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. analysts expect that Kellogg Company will post 4.04 earnings per share for the current 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 paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, November 30th. Kellogg’s payout ratio is 96.43%.

Several analysts recently issued reports on K shares. Royal Bank Of Canada set a $81.00 target price on Kellogg and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Piper Jaffray Companies cut Kellogg from an “overweight” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, September 19th. Credit Suisse Group cut their target price on Kellogg from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. BMO Capital Markets reiterated a “hold” rating and set a $78.00 target price on shares of Kellogg in a research report on Wednesday, September 6th. Finally, Morgan Stanley cut their target price on Kellogg from $70.00 to $66.00 and set an “equal weight” rating for the company in a research report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $71.00.

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About Kellogg

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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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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