California State Teachers Retirement System lowered its position in Kellogg Company (NYSE:K) by 7.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 428,658 shares of the company’s stock after selling 36,523 shares during the period. California State Teachers Retirement System owned 0.12% of Kellogg worth $26,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. FTB Advisors Inc. grew its holdings in Kellogg by 0.5% during the second quarter. FTB Advisors Inc. now owns 3,648 shares of the company’s stock valued at $251,000 after purchasing an additional 17 shares during the last quarter. Guyasuta Investment Advisors Inc. grew its holdings in Kellogg by 0.5% during the second quarter. Guyasuta Investment Advisors Inc. now owns 7,498 shares of the company’s stock valued at $521,000 after purchasing an additional 40 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Kellogg by 2.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,930 shares of the company’s stock valued at $273,000 after purchasing an additional 86 shares during the last quarter. King Luther Capital Management Corp grew its holdings in Kellogg by 2.7% during the second quarter. King Luther Capital Management Corp now owns 3,640 shares of the company’s stock valued at $253,000 after purchasing an additional 95 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its holdings in Kellogg by 1.3% during the second quarter. IndexIQ Advisors LLC now owns 8,085 shares of the company’s stock valued at $561,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Several equities analysts have commented on K shares. BMO Capital Markets reiterated a “hold” rating and set a $78.00 price target on shares of Kellogg in a report on Wednesday, September 6th. Piper Jaffray Companies downgraded Kellogg from an “overweight” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Tuesday, September 19th. Bank of America reiterated an “underperform” rating and set a $66.00 price target (down previously from $72.00) on shares of Kellogg in a report on Monday, October 9th. Morgan Stanley lowered their price target on Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a report on Friday, October 13th. Finally, Royal Bank of Canada set a $81.00 price target on Kellogg and gave the company a “hold” rating in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $71.15.

In related news, Chairman John A. Bryant sold 190,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $63.01, for a total value of $11,971,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $65.00, for a total value of $207,675.00. The disclosure for this sale can be found here. Insiders sold 349,754 shares of company stock valued at $22,304,119 over the last three months. 1.30% of the stock is owned by company insiders.

Shares of Kellogg Company (K) opened at $64.99 on Monday. Kellogg Company has a 12-month low of $58.76 and a 12-month high of $76.69. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43. The firm has a market capitalization of $22,452.29, a P/E ratio of 16.25, a PEG ratio of 2.63 and a beta of 0.52.

Kellogg (NYSE:K) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.11. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the prior year, the business earned $0.96 earnings per share. Kellogg’s revenue for the quarter was up .6% compared to the same quarter last year. sell-side analysts anticipate that Kellogg Company will post 4.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.54 dividend. The ex-dividend date was Thursday, November 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.32%. Kellogg’s dividend payout ratio is 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.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

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