Ubs Oconnor Lowers stake in Kellogg Company (K)

Kellogg Company (K) : Ubs Oconnor reduced its stake in Kellogg Company by 14.2% during the most recent quarter end. The investment management company now holds a total of 882,828 shares of Kellogg Company which is valued at $73,742,623 after selling 146,156 shares in Kellogg Company , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Kellogg Company makes up approximately 2.25% of Ubs Oconnor’s portfolio.

Other Hedge Funds, Including , Ontario Teachers Pension Plan Board added K to its portfolio by purchasing 88,851 company shares during the most recent quarter which is valued at $7,421,724. Kellogg Company makes up approx 0.08% of Ontario Teachers Pension Plan Board’s portfolio.Herndon Capital Management boosted its stake in K in the latest quarter, The investment management firm added 23 additional shares and now holds a total of 1,036 shares of Kellogg Company which is valued at $85,688.Syntal Capital Partners reduced its stake in K by selling 187 shares or 6.68% in the most recent quarter. The Hedge Fund company now holds 2,613 shares of K which is valued at $216,121. Kellogg Company makes up approx 0.25% of Syntal Capital Partners’s portfolio.Rnc Capital Management boosted its stake in K in the latest quarter, The investment management firm added 503 additional shares and now holds a total of 5,455 shares of Kellogg Company which is valued at $443,328. Kellogg Company makes up approx 0.04% of Rnc Capital Management’s portfolio. Barometer Capital Management sold out all of its stake in K during the most recent quarter. The investment firm sold 58,600 shares of K which is valued $5,016,746.

Kellogg Company opened for trading at $82.51 and hit $83.23 on the upside on Monday, eventually ending the session at $83.11, with a gain of 0.90% or 0.74 points. The heightened volatility saw the trading volume jump to 22,25,923 shares. Company has a market cap of $29,110 M.

On the company’s financial health, Kellogg Company reported $0.91 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.91. The company had revenue of $3268.00 million for the quarter, compared to analysts expectations of $3362.13 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Investors should note that on Jul 29, 2016, Kellogg Company announced a cash dividend of $0.5200. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Citigroup on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .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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