Teachers Retirement System of The State of Kentucky Sells 785 Shares of Kellogg (NYSE:K)

Teachers Retirement System of The State of Kentucky reduced its stake in Kellogg (NYSE:KGet Rating) by 4.2% during the 1st quarter, HoldingsChannel reports. The fund owned 18,058 shares of the company’s stock after selling 785 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Kellogg were worth $1,165,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in K. Vanguard Group Inc. increased its stake in Kellogg by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock valued at $1,892,981,000 after buying an additional 646,828 shares during the last quarter. BlackRock Inc. increased its stake in Kellogg by 4.1% in the 1st quarter. BlackRock Inc. now owns 26,845,929 shares of the company’s stock valued at $1,731,295,000 after buying an additional 1,054,740 shares during the last quarter. State Street Corp increased its stake in shares of Kellogg by 2.6% during the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after purchasing an additional 369,620 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in shares of Kellogg by 2.1% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 5,196,773 shares of the company’s stock worth $335,139,000 after purchasing an additional 106,335 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Kellogg by 6.3% during the 1st quarter. Invesco Ltd. now owns 5,137,164 shares of the company’s stock worth $331,296,000 after purchasing an additional 302,388 shares during the last quarter. 84.51% of the stock is owned by institutional investors.

Insider Transactions at Kellogg

In other news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $75.81, for a total value of $11,079,858.93. Following the completion of the transaction, the insider now directly owns 56,731,838 shares in the company, valued at $4,300,840,638.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Kellogg news, CFO Amit Banati sold 6,960 shares of Kellogg stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $74.00, for a total transaction of $515,040.00. Following the completion of the sale, the chief financial officer now directly owns 52,772 shares in the company, valued at $3,905,128. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $75.81, for a total transaction of $11,079,858.93. Following the sale, the insider now owns 56,731,838 shares of the company’s stock, valued at $4,300,840,638.78. The disclosure for this sale can be found here. Insiders sold 996,199 shares of company stock worth $73,257,333 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on K shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Kellogg from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, June 22nd. UBS Group lowered shares of Kellogg from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $81.00 to $74.00 in a research note on Thursday, July 7th. JPMorgan Chase & Co. restated an “underweight” rating and set a $67.00 price objective (up from $64.00) on shares of Kellogg in a research note on Wednesday, June 22nd. Morgan Stanley lifted their target price on shares of Kellogg from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. Finally, Credit Suisse Group lifted their target price on shares of Kellogg to $72.00 in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.20.

Kellogg Stock Performance

NYSE K opened at $73.61 on Friday. Kellogg has a 52-week low of $59.54 and a 52-week high of $76.99. The company has a 50-day simple moving average of $73.42 and a 200 day simple moving average of $69.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.43 and a current ratio of 0.70. The company has a market capitalization of $25.04 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 4.23 and a beta of 0.43.

Kellogg (NYSE:KGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.13. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.64 billion. Kellogg had a net margin of 10.21% and a return on equity of 33.77%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. On average, research analysts predict that Kellogg will post 4.12 EPS for the current year.

Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.59 dividend. This is an increase from Kellogg’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, August 31st. This represents a $2.36 annualized dividend and a dividend yield of 3.21%. Kellogg’s dividend payout ratio (DPR) is presently 54.50%.

Kellogg Company Profile

(Get Rating)

Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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