Rampart Investment Management Company LLC Acquires 5,518 Shares of Kellogg (K)

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Rampart Investment Management Company LLC grew its position in Kellogg (NYSE:K) by 218.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,039 shares of the company’s stock after purchasing an additional 5,518 shares during the period. Rampart Investment Management Company LLC’s holdings in Kellogg were worth $196,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of K. Bank of New York Mellon Corp raised its holdings in Kellogg by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 5,324,426 shares of the company’s stock worth $372,017,000 after purchasing an additional 1,076,748 shares during the period. Artisan Partners Limited Partnership acquired a new stake in Kellogg in the second quarter worth $65,600,000. Millennium Management LLC raised its holdings in Kellogg by 61.8% in the second quarter. Millennium Management LLC now owns 2,418,179 shares of the company’s stock worth $168,958,000 after purchasing an additional 923,365 shares during the period. Putnam Investments LLC raised its holdings in Kellogg by 25,701.7% in the second quarter. Putnam Investments LLC now owns 851,713 shares of the company’s stock worth $59,509,000 after purchasing an additional 848,412 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in Kellogg by 211.5% in the second quarter. Great West Life Assurance Co. Can now owns 943,292 shares of the company’s stock worth $66,005,000 after purchasing an additional 640,495 shares during the period. Institutional investors own 86.72% of the company’s stock.

Shares of NYSE:K opened at $60.36 on Friday. Kellogg has a 12 month low of $56.40 and a 12 month high of $74.98. The company has a current ratio of 0.84, a quick ratio of 0.52 and a debt-to-equity ratio of 2.41. The firm has a market cap of $20.95 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.27 and a beta of 0.51.

Kellogg (NYSE:K) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). Kellogg had a return on equity of 51.32% and a net margin of 13.75%. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Kellogg will post 4.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.71%. Kellogg’s payout ratio is 55.45%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction on Monday, December 10th. The shares were sold at an average price of $59.94, for a total value of $5,994,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Fareed A. Khan purchased 8,190 shares of the stock in a transaction on Tuesday, November 20th. The stock was acquired at an average price of $62.14 per share, for a total transaction of $508,926.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 485,000 shares of company stock worth $31,489,800. 1.40% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Kellogg in a report on Monday, September 17th. They issued an “equal weight” rating and a $75.00 target price on the stock. ValuEngine upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Piper Jaffray Companies set a $79.00 target price on shares of Kellogg and gave the stock a “buy” rating in a report on Tuesday, October 16th. Finally, Citigroup cut their target price on shares of Kellogg from $87.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.22.

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About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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