Alethea Capital Management buys $2,413,463 stake in Kellogg Company (K)

Kellogg Company (K) : Alethea Capital Management scooped up 25,627 additional shares in Kellogg Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 22, 2016. The investment management firm now holds a total of 29,127 shares of Kellogg Company which is valued at $2,413,463.Kellogg Company makes up approximately 3.24% of Alethea Capital Management’s portfolio.

Other Hedge Funds, Including , Old Mutual Global Investors (uk) Ltd. sold out all of its stake in K during the most recent quarter. The investment firm sold 108,333 shares of K which is valued $8,976,472.Ibm Retirement Fund boosted its stake in K in the latest quarter, The investment management firm added 61 additional shares and now holds a total of 32,863 shares of Kellogg Company which is valued at $2,723,028. Kellogg Company makes up approx 0.10% of Ibm Retirement Fund’s portfolio.Murphy Capital Management Inc reduced its stake in K by selling 800 shares or 9.64% in the most recent quarter. The Hedge Fund company now holds 7,500 shares of K which is valued at $616,950. Kellogg Company makes up approx 0.09% of Murphy Capital Management Inc’s portfolio.Simplex Trading boosted its stake in K in the latest quarter, The investment management firm added 82,214 additional shares and now holds a total of 84,479 shares of Kellogg Company which is valued at $6,949,243. Kellogg Company makes up approx 0.88% of Simplex Trading’s portfolio.

Kellogg Company opened for trading at $81.92 and hit $83.09 on the upside on Friday, eventually ending the session at $82.71, with a gain of 1.12% or 0.92 points. The heightened volatility saw the trading volume jump to 19,43,306 shares. Company has a market cap of $28,952 M.

On the company’s financial health, Kellogg Company reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.94. The company had revenue of $3395.00 million for the quarter, compared to analysts expectations of $3466.55 million. The company’s revenue was down -4.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Credit Suisse on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 94 from a previous price target of $84 .

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. The Company’s cereal products are generally marketed under the Kellogg’s name and are sold to the grocery trade through direct sales forces for resale to consumers. The Company also markets cookies crackers crisps and other convenience foods under brands such as Kellogg’s Keebler Cheez-It Murray Austin and Famous Amos to supermarkets in the United States through a direct store-door (DSD) delivery system although other distribution methods are also used. The Company uses broker and distributor arrangements for certain products. It also uses similar arrangements in less-developed market areas or in those market areas outside of its focus.

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