National Pension Service increased its holdings in shares of Kellogg (NYSE:K) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 291,384 shares of the company’s stock after buying an additional 29,724 shares during the quarter. National Pension Service’s holdings in Kellogg were worth $19,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. CLS Investments LLC bought a new stake in shares of Kellogg in the third quarter valued at $124,000. Sawyer & Company Inc bought a new stake in shares of Kellogg in the fourth quarter valued at $170,000. Fruth Investment Management bought a new stake in shares of Kellogg in the fourth quarter valued at $201,000. Appleton Partners Inc. MA bought a new stake in shares of Kellogg in the fourth quarter valued at $209,000. Finally, Raab & Moskowitz Asset Management LLC bought a new stake in shares of Kellogg in the second quarter valued at $222,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of Kellogg stock in a transaction on Friday, November 24th. The stock was sold at an average price of $65.00, for a total value of $207,675.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald R. Knauss sold 6,846 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total value of $428,354.22. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $312,850. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,754 shares of company stock valued at $22,304,119. 1.30% of the stock is owned by company insiders.

Kellogg (NYSE K) opened at $66.62 on Friday. The firm has a market capitalization of $23,015.41, a price-to-earnings ratio of 16.66, a PEG ratio of 2.52 and a beta of 0.52. Kellogg has a 52-week low of $58.76 and a 52-week high of $76.69. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.68 and a quick ratio of 0.43.

Kellogg (NYSE:K) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. analysts anticipate that Kellogg will post 4.03 EPS for the current year.

Kellogg declared that its board has approved a stock buyback program on Friday, December 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

K has been the topic of several research reports. Bank of America restated an “underperform” rating and issued a $66.00 target price (down from $72.00) on shares of Kellogg in a research note on Monday, October 9th. Morgan Stanley lowered their target price on Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Friday, October 13th. Royal Bank of Canada set a $81.00 target price on Kellogg and gave the company a “hold” rating in a research note on Wednesday, October 18th. Credit Suisse Group lowered their target price on Kellogg from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Finally, Susquehanna Bancshares set a $71.00 target price on Kellogg and gave the company a “hold” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $72.57.

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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.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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