Kellogg Company (K) : Bridgeway Capital Management Inc scooped up 197,900 additional shares in Kellogg Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 602,450 shares of Kellogg Company which is valued at $50,322,649.Kellogg Company makes up approximately 0.75% of Bridgeway Capital Management Inc’s portfolio.
Other Hedge Funds, Including , Mount Lucas Management Lp reduced its stake in K by selling 328 shares or 0.83% in the most recent quarter. The Hedge Fund company now holds 39,203 shares of K which is valued at $3,274,627. Kellogg Company makes up approx 0.56% of Mount Lucas Management Lp’s portfolio.Profund Advisors reduced its stake in K by selling 1,225 shares or 14.43% in the most recent quarter. The Hedge Fund company now holds 7,265 shares of K which is valued at $606,845. Kellogg Company makes up approx 0.03% of Profund Advisors’s portfolio.
Kellogg Company closed down -0.52 points or -0.63% at $81.69 with 15,43,092 shares getting traded on Thursday. Post opening the session at $81.88, the shares hit an intraday low of $81.31 and an intraday high of $82.04 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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.
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 Companys 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 Companys cereal products are generally marketed under the Kelloggs 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 Kelloggs 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.