Kellogg Company (K) : Traders are negative on Kellogg Company (K), as it has 1.7% of short positions outstanding compared to its float. The total shorts have reduced by -1,333,529 shares, which is a -18.8% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,7,076,332 to 5,742,803 shares. While the daily trading volume of the stock is 1,692,716, there are 3 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Kellogg Company (NYSE:K): The stock opened at $82.65 on Wednesday but the bulls could not build on the opening and the stock topped out at $82.75 for the day. The stock traded down to $81.86 during the day, due to lack of any buying support eventually closed down at $82.34 with a loss of -0.42% for the day. The stock had closed at $82.69 on the previous day. The total traded volume was 1,072,580 shares.
In a related news,The director of Kellogg Co, Dillon John T sold 3,000 shares at $82.66 on August 17, 2016. The Insider selling transaction had a total value worth of $247,980. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.