Commerzbank Aktiengesellschaft FI Acquires 104,995 Shares of Kellogg Company (K)

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Kellogg Company (NYSE:K) by 153.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,217 shares of the company’s stock after acquiring an additional 104,995 shares during the quarter. Commerzbank Aktiengesellschaft FI owned about 0.05% of Kellogg worth $10,804,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Raab & Moskowitz Asset Management LLC purchased a new position in Kellogg in the second quarter valued at $222,000. Cetera Investment Advisers purchased a new stake in Kellogg during the 2nd quarter worth about $231,000. Airain ltd purchased a new stake in Kellogg during the 2nd quarter worth about $233,000. Wetherby Asset Management Inc. lifted its holdings in shares of Kellogg by 1.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,411 shares of the company’s stock valued at $237,000 after purchasing an additional 48 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in shares of Kellogg by 2.7% in the 2nd quarter. King Luther Capital Management Corp now owns 3,640 shares of the company’s stock valued at $253,000 after purchasing an additional 95 shares during the last quarter. 89.65% of the stock is owned by institutional investors.

Kellogg Company (K) traded down $0.74 during mid-day trading on Monday, hitting $66.53. The stock had a trading volume of 2,361,200 shares, compared to its average volume of 2,547,431. The firm has a market cap of $22,984.29, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 2.69 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71. Kellogg Company has a 1-year low of $58.76 and a 1-year high of $76.69.

Kellogg (NYSE:K) last announced its quarterly earnings results 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. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same period in the prior year, the firm earned $0.96 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. equities analysts forecast that Kellogg Company will post 4.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 annualized dividend and a yield of 3.25%. Kellogg’s dividend payout ratio is currently 96.43%.

In other Kellogg news, CEO Steven A. Cahillane bought 15,930 shares of the stock in a transaction dated Thursday, November 2nd. The stock was bought at an average cost of $62.70 per share, for a total transaction of $998,811.00. Following the completion of the purchase, the chief executive officer now directly owns 15,930 shares of the company’s stock, valued at $998,811. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donald R. Knauss sold 6,846 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total value of $428,354.22. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $312,850. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,754 shares of company stock valued at $22,304,119. 1.30% of the stock is owned by insiders.

Several equities analysts have issued reports on K shares. DZ Bank cut Kellogg from a “buy” rating to a “hold” rating in a research report on Friday. UBS decreased their price target on Kellogg from $72.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Bank of America reissued an “underperform” rating and set a $66.00 price target (down previously from $72.00) on shares of Kellogg in a research note on Monday, October 9th. Piper Jaffray Companies set a $72.00 price target on Kellogg and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Finally, Morgan Stanley reduced their target price on Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Friday, October 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $71.15.

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Kellogg 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.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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