Retirement Systems of Alabama cut its stake in shares of Kellogg Company (NYSE:K) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,559 shares of the company’s stock after selling 1,721 shares during the quarter. Retirement Systems of Alabama’s holdings in Kellogg were worth $7,519,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of K. Louisiana State Employees Retirement System increased its holdings in Kellogg by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the company’s stock valued at $1,084,000 after buying an additional 100 shares during the period. Alpha Windward LLC increased its holdings in Kellogg by 0.4% during the second quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock valued at $179,000 after buying an additional 11 shares during the period. Washington Trust Bank increased its holdings in Kellogg by 0.8% during the second quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock valued at $124,000 after buying an additional 15 shares during the period. Private Bank & Trust Co. increased its holdings in Kellogg by 4.3% during the second quarter. Private Bank & Trust Co. now owns 6,511 shares of the company’s stock valued at $453,000 after buying an additional 271 shares during the period. Finally, Huntington National Bank increased its holdings in Kellogg by 2.0% during the second quarter. Huntington National Bank now owns 16,749 shares of the company’s stock valued at $1,164,000 after buying an additional 322 shares during the period. 86.85% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Kellogg Company (K) opened at $65.36 on Monday. Kellogg Company has a one year low of $58.76 and a one year 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. The company has a market cap of $22,580.09, a price-to-earnings ratio of 16.34, a PEG ratio of 2.64 and a beta of 0.49.

Kellogg (NYSE:K) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. Kellogg had a net margin of 6.15% and a return on equity of 73.92%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. research analysts predict that Kellogg Company will post 4.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.30%. Kellogg’s dividend payout ratio is presently 96.43%.

Several equities analysts have issued reports on K shares. Royal Bank Of Canada cut their price target on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $85.00 price target on shares of Kellogg in a report on Friday, August 4th. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of Kellogg in a report on Thursday, August 3rd. J P Morgan Chase & Co raised shares of Kellogg from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $76.00 to $78.00 in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Kellogg currently has a consensus rating of “Hold” and an average price target of $71.00.

In related news, Chairman John A. Bryant sold 190,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $63.01, for a total transaction of $11,971,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Jenness sold 26,592 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $63.08, for a total transaction of $1,677,423.36. The disclosure for this sale can be found here. Insiders have sold 223,438 shares of company stock valued at $14,077,678 over the last 90 days. 1.30% of the stock is currently owned by insiders.

About Kellogg

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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