State of Alaska Department of Revenue lowered its position in Kellogg Company (NYSE:K) by 11.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,506 shares of the company’s stock after selling 2,416 shares during the period. State of Alaska Department of Revenue’s holdings in Kellogg Company were worth $1,285,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Planning raised its position in shares of Kellogg Company by 3.0% in the second quarter. Creative Planning now owns 17,466 shares of the company’s stock worth $1,213,000 after buying an additional 511 shares in the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of Kellogg Company by 28.8% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,757,435 shares of the company’s stock worth $147,525,000 after buying an additional 616,120 shares in the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of Kellogg Company by 3,457.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 334,588 shares of the company’s stock worth $23,240,000 after buying an additional 325,184 shares in the last quarter. Pennsylvania Trust Co raised its position in shares of Kellogg Company by 30.5% in the second quarter. Pennsylvania Trust Co now owns 12,267 shares of the company’s stock worth $852,000 after buying an additional 2,866 shares in the last quarter. Finally, City Holding Co. raised its position in shares of Kellogg Company by 20.8% in the second quarter. City Holding Co. now owns 37,474 shares of the company’s stock worth $2,602,000 after buying an additional 6,440 shares in the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.

Kellogg Company (K) opened at 66.38 on Monday. The stock has a 50 day moving average of $71.60 and a 200-day moving average of $72.68. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 30.04 and a beta of 0.50. Kellogg Company has a 52-week low of $65.32 and a 52-week high of $87.16.

Kellogg Company (NYSE:K) last released its earnings results on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.28 billion. Kellogg Company had a net margin of 6.07% and a return on equity of 67.99%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. On average, equities research analysts anticipate that Kellogg Company will post $3.92 earnings per share for the current fiscal year.

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A number of brokerages have weighed in on K. Sanford C. Bernstein lowered shares of Kellogg Company from a “market perform” rating to an “underperform” rating in a research report on Tuesday, March 21st. Susquehanna Bancshares Inc set a $78.00 target price on shares of Kellogg Company and gave the stock a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research lowered shares of Kellogg Company from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Piper Jaffray Companies began coverage on shares of Kellogg Company in a research report on Wednesday, May 24th. They set an “overweight” rating and a $78.00 target price for the company. Finally, Credit Suisse Group cut their target price on shares of Kellogg Company from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $79.09.

In other Kellogg Company news, Director James M. Jenness sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $71.06, for a total value of $4,974,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. Insiders sold a total of 99,900 shares of company stock valued at $7,178,363 over the last three months. 1.30% of the stock is currently owned by insiders.

Kellogg Company 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 Company (NYSE:K)

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