Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Kellogg Company (NYSE:K) by 57.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 141,379 shares of the company’s stock after selling 187,849 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kellogg were worth $8,818,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of Kellogg in the 2nd quarter valued at approximately $222,000. Parametrica Management Ltd purchased a new stake in shares of Kellogg in the 2nd quarter valued at approximately $227,000. Cetera Investment Advisers purchased a new stake in shares of Kellogg in the 2nd quarter valued at approximately $231,000. Airain ltd purchased a new stake in shares of Kellogg in the 2nd quarter valued at approximately $233,000. Finally, Wetherby Asset Management Inc. grew its stake in shares of Kellogg by 1.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,411 shares of the company’s stock valued at $237,000 after buying an additional 48 shares during the period. Institutional investors own 86.85% of the company’s stock.

In related news, Director Donald R. Knauss sold 6,846 shares of Kellogg stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.57, for a total transaction of $428,354.22. Following the sale, the director now directly owns 5,000 shares in the company, valued at approximately $312,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John A. Bryant sold 190,000 shares of Kellogg stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $63.01, for a total transaction of $11,971,900.00. The disclosure for this sale can be found here. Insiders sold a total of 267,953 shares of company stock worth $16,976,049 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Shares of Kellogg Company (NYSE K) opened at $64.93 on Friday. The stock has a market cap of $22,355.53, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. Kellogg Company has a fifty-two week low of $58.76 and a fifty-two week high of $76.69. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71.

Kellogg (NYSE:K) last released its earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share (EPS) 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 analyst estimates of $3.22 billion. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 EPS. equities analysts predict that Kellogg Company will post 4.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.33%. Kellogg’s payout ratio is 96.43%.

Several analysts have recently weighed in on the stock. Susquehanna Bancshares Inc set a $71.00 price target on shares of Kellogg and gave the company a “hold” rating in a research note on Tuesday, October 31st. BMO Capital Markets lowered their price objective on shares of Kellogg from $85.00 to $78.00 and set a “market perform” rating for the company in a research report on Friday, August 4th. Morgan Stanley lowered their price objective on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating for the company in a research report on Friday, October 13th. Royal Bank Of Canada lowered their price objective on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 1st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $74.00 price objective (up previously from $71.00) on shares of Kellogg in a research report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $71.15.

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Kellogg 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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