California Public Employees Retirement System lifted its stake in shares of Kellogg (NYSE:K) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 625,163 shares of the company’s stock after buying an additional 20,430 shares during the quarter. California Public Employees Retirement System’s holdings in Kellogg were worth $42,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its holdings in Kellogg by 1,304.0% in the fourth quarter. Teacher Retirement System of Texas now owns 124,972 shares of the company’s stock worth $8,496,000 after purchasing an additional 116,071 shares during the period. Cypress Wealth Services LLC purchased a new stake in Kellogg in the fourth quarter worth about $1,427,000. Blue Sky Asset Management LLC purchased a new stake in Kellogg in the fourth quarter worth about $908,000. Calton & Associates Inc. purchased a new stake in Kellogg in the fourth quarter worth about $112,000. Finally, American Century Companies Inc. grew its holdings in Kellogg by 5.9% in the fourth quarter. American Century Companies Inc. now owns 3,236,189 shares of the company’s stock worth $219,996,000 after purchasing an additional 180,047 shares during the period. Institutional investors own 90.18% of the company’s stock.

A number of equities research analysts have weighed in on K shares. Citigroup upped their price objective on shares of Kellogg from $86.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. UBS Group cut their price objective on shares of Kellogg from $72.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Credit Suisse Group upped their price objective on shares of Kellogg from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Argus upgraded shares of Kellogg from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Wednesday, November 22nd. Finally, Piper Jaffray Companies set a $72.00 price target on shares of Kellogg and gave the company a “hold” rating in a report on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Kellogg presently has an average rating of “Hold” and a consensus price target of $73.19.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.14, for a total transaction of $5,120,394.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $65.00, for a total transaction of $207,675.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,316 shares of company stock worth $20,381,841. 1.30% of the stock is owned by insiders.

Shares of Kellogg (NYSE:K) opened at $67.74 on Thursday. Kellogg has a fifty-two week low of $58.76 and a fifty-two week high of $76.44. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 3.52. The company has a market cap of $23,315.95, a P/E ratio of 16.70, a PEG ratio of 2.29 and a beta of 0.47.

Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.96 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.96. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 earnings per share. sell-side analysts forecast that Kellogg will post 4.44 EPS for the current year.

Kellogg declared that its Board of Directors has authorized a share buyback plan on Friday, December 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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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.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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