British Columbia Investment Management Corp cut its position in shares of Kellogg Co. (NYSE:K) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,226 shares of the company’s stock after selling 18,948 shares during the period. British Columbia Investment Management Corp’s holdings in Kellogg were worth $11,018,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Raymond James Trust N.A. increased its stake in Kellogg by 3.8% in the third quarter. Raymond James Trust N.A. now owns 8,270 shares of the company’s stock valued at $641,000 after buying an additional 300 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Kellogg by 12.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 68,788 shares of the company’s stock valued at $5,329,000 after buying an additional 7,413 shares during the period. Advisory Services Network LLC increased its stake in Kellogg by 743.6% in the third quarter. Advisory Services Network LLC now owns 2,843 shares of the company’s stock valued at $220,000 after buying an additional 2,506 shares during the period. West Oak Capital LLC increased its stake in Kellogg by 7.1% in the third quarter. West Oak Capital LLC now owns 2,949 shares of the company’s stock valued at $228,000 after buying an additional 195 shares during the period. Finally, Washington Trust Bank increased its stake in Kellogg by 1.9% in the third quarter. Washington Trust Bank now owns 1,799 shares of the company’s stock valued at $139,000 after buying an additional 34 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Kellogg (NYSE:K)

Kellogg Co. (NYSE:K) traded up 1.05% during trading on Friday, reaching $74.16. The company’s stock had a trading volume of 497,277 shares. The firm has a market cap of $26.02 billion, a PE ratio of 37.32 and a beta of 0.55. The company has a 50-day moving average of $74.51 and a 200 day moving average of $78.21. Kellogg Co. has a one year low of $68.20 and a one year high of $87.16.

Kellogg (NYSE:K) last posted its earnings results on Tuesday, November 1st. The company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. The company earned $3.25 billion during the quarter, compared to analyst estimates of $878.20 million. Kellogg had a net margin of 5.41% and a return on equity of 61.36%. Kellogg’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. Analysts expect that Kellogg Co. will post $3.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.80%. Kellogg’s dividend payout ratio is currently 105.05%.

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Several research analysts recently issued reports on K shares. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $94.00 target price on shares of Kellogg in a research report on Tuesday, September 27th. Morgan Stanley reaffirmed a “hold” rating and set a $79.00 target price on shares of Kellogg in a research report on Thursday, September 1st. Deutsche Bank AG raised their target price on Kellogg from $74.00 to $78.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Susquehanna reaffirmed a “hold” rating on shares of Kellogg in a research report on Wednesday, September 7th. Finally, Citigroup Inc. lowered their target price on Kellogg from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Kellogg presently has an average rating of “Hold” and an average target price of $82.33.

In related news, Vice Chairman Gary H. Pilnick sold 5,036 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $74.88, for a total value of $377,095.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronald L. Dissinger sold 5,843 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $74.88, for a total transaction of $437,523.84. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.

About Kellogg

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s products include cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. Its segments include U.S. Morning Foods; U.S. Snacks; U.S.

5 Day Chart for NYSE:K

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