TIAA CREF Investment Management LLC trimmed its position in Kellogg (NYSE:K) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 877,889 shares of the company’s stock after selling 69,019 shares during the period. TIAA CREF Investment Management LLC’s holdings in Kellogg were worth $59,679,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Calton & Associates Inc. purchased a new position in shares of Kellogg during the 4th quarter valued at about $112,000. CLS Investments LLC purchased a new position in shares of Kellogg during the 3rd quarter valued at about $124,000. Resources Investment Advisors Inc. lifted its position in shares of Kellogg by 65.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,859 shares of the company’s stock valued at $127,000 after buying an additional 737 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Kellogg during the 4th quarter valued at about $128,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in shares of Kellogg during the 4th quarter valued at about $163,000. 91.85% of the stock is currently owned by institutional investors and hedge funds.

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K stock opened at $66.32 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 3.52. Kellogg has a twelve month low of $58.76 and a twelve month high of $74.29. The company has a market capitalization of $22,968.09, a P/E ratio of 16.44, a P/E/G ratio of 2.04 and a beta of 0.48.

Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.96 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.96. Kellogg had a return on equity of 70.35% and a net margin of 9.82%. The company had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm earned $0.92 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. analysts anticipate that Kellogg will post 4.45 earnings per share for the current year.

Kellogg announced that its board has initiated a share buyback program on Friday, December 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Friday, March 2nd. Kellogg’s payout ratio is 59.67%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 13,845 shares of Kellogg stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $67.68, for a total value of $937,029.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 205,000 shares of Kellogg stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $69.47, for a total value of $14,241,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 623,763 shares of company stock worth $42,787,777. Corporate insiders own 1.40% of the company’s stock.

K has been the topic of a number of analyst reports. Zacks Investment Research raised Kellogg from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Friday, March 16th. Morgan Stanley lifted their price objective on Kellogg from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Susquehanna Bancshares set a $69.00 price objective on Kellogg and gave the company a “hold” rating in a research report on Monday, February 5th. Piper Jaffray Companies raised Kellogg from a “neutral” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research report on Wednesday, February 28th. Finally, Citigroup boosted their price target on Kellogg from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Kellogg has an average rating of “Hold” and a consensus price target of $73.88.

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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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