Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 5,375 Shares of Kellogg (K)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Kellogg (NYSE:K) by 20.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,767 shares of the company’s stock after selling 5,375 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Kellogg were worth $1,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Kellogg by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 377,931 shares of the company’s stock worth $24,570,000 after purchasing an additional 15,316 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Kellogg by 113.2% in the 1st quarter. Allianz Asset Management GmbH now owns 6,812 shares of the company’s stock valued at $443,000 after acquiring an additional 58,391 shares in the last quarter. Advisor Partners LLC lifted its position in Kellogg by 26.4% in the 2nd quarter. Advisor Partners LLC now owns 4,940 shares of the company’s stock valued at $345,000 after acquiring an additional 1,033 shares in the last quarter. BTIM Corp. bought a new position in Kellogg in the 2nd quarter valued at about $472,000. Finally, OLD National Bancorp IN lifted its position in Kellogg by 35.5% in the 2nd quarter. OLD National Bancorp IN now owns 4,893 shares of the company’s stock valued at $342,000 after acquiring an additional 1,281 shares in the last quarter. 86.92% of the stock is owned by hedge funds and other institutional investors.

NYSE:K opened at $61.74 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.84 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.32 and a beta of 0.50. Kellogg has a 52 week low of $56.40 and a 52 week high of $74.98.

Kellogg (NYSE:K) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities analysts forecast that Kellogg will post 4.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a $0.56 dividend. The ex-dividend date is Friday, November 30th. This represents a $2.24 annualized dividend and a yield of 3.63%. Kellogg’s dividend payout ratio (DPR) is 55.45%.

Several equities analysts recently weighed in on K shares. Buckingham Research dropped their price target on shares of Kellogg from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Credit Suisse Group dropped their price target on shares of Kellogg from $70.00 to $66.00 and set a “hold” rating on the stock in a research report on Wednesday, November 14th. ValuEngine raised shares of Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Deutsche Bank set a $66.00 price target on shares of Kellogg and gave the company a “hold” rating in a research report on Wednesday, November 14th. Finally, Citigroup dropped their price target on shares of Kellogg from $79.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and a consensus target price of $70.22.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 215,000 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $74.61, for a total value of $16,041,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven A. Cahillane acquired 17,825 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was purchased at an average price of $61.63 per share, with a total value of $1,098,554.75. The disclosure for this purchase can be found here. In the last quarter, insiders sold 600,000 shares of company stock valued at $41,536,950. Company insiders own 1.40% of the company’s stock.

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Kellogg Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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