California Public Employees Retirement System raised its holdings in Kellogg Company (NYSE:K) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 604,733 shares of the company’s stock after purchasing an additional 30,479 shares during the period. California Public Employees Retirement System owned 0.18% of Kellogg worth $37,717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors lifted its stake in shares of Kellogg by 54.7% during the second quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock valued at $1,669,244,000 after buying an additional 8,495,714 shares during the period. Vanguard Group Inc. lifted its stake in shares of Kellogg by 0.3% during the second quarter. Vanguard Group Inc. now owns 20,330,268 shares of the company’s stock valued at $1,412,139,000 after buying an additional 56,284 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Kellogg by 94.3% during the second quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after buying an additional 3,807,425 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Kellogg by 34.2% during the third quarter. Ameriprise Financial Inc. now owns 4,038,523 shares of the company’s stock valued at $251,883,000 after buying an additional 1,030,264 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Kellogg by 36.7% during the third quarter. American Century Companies Inc. now owns 3,056,142 shares of the company’s stock valued at $190,612,000 after buying an additional 820,277 shares during the period. 89.65% of the stock is currently owned by institutional investors.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $65.11, for a total value of $2,898,371.65. Following the completion of the sale, the insider now owns 67,887,323 shares of the company’s stock, valued at $4,420,143,600.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.14, for a total transaction of $5,120,394.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,754 shares of company stock worth $22,304,119. 1.30% of the stock is currently owned by insiders.

Several brokerages recently issued reports on K. Susquehanna Bancshares set a $71.00 price objective on shares of Kellogg and gave the company a “hold” rating in a research note on Tuesday, October 31st. Morgan Stanley reduced their price objective on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Friday, October 13th. Royal Bank of Canada set a $81.00 price objective on shares of Kellogg and gave the company a “hold” rating in a research note on Wednesday, October 18th. Buckingham Research reduced their price objective on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Finally, Credit Suisse Group reduced their price objective on shares of Kellogg from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Kellogg presently has a consensus rating of “Hold” and a consensus target price of $71.15.

Kellogg Company (NYSE K) opened at $64.99 on Friday. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.43 and a current ratio of 0.68. The firm has a market cap of $22,472.99, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. Kellogg Company has a one year low of $58.76 and a one year high of $76.69.

Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. Kellogg’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. equities analysts expect that Kellogg Company will post 4.03 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Thursday, November 30th. Kellogg’s dividend payout ratio is currently 96.43%.

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Kellogg Company Profile

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.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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