TD Asset Management Inc. trimmed its holdings in Kellogg (NYSE:K) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 748,589 shares of the company’s stock after selling 51,554 shares during the period. TD Asset Management Inc. owned 0.22% of Kellogg worth $48,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of K. Vanguard Group Inc. grew its stake in Kellogg by 21.0% in the 2nd quarter. Vanguard Group Inc. now owns 25,326,631 shares of the company’s stock valued at $1,673,077,000 after acquiring an additional 4,401,039 shares during the last quarter. Nordea Investment Management AB grew its stake in Kellogg by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 4,163,366 shares of the company’s stock valued at $272,326,000 after acquiring an additional 1,961,629 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Kellogg by 45.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,137,318 shares of the company’s stock valued at $207,252,000 after acquiring an additional 976,584 shares during the last quarter. BlackRock Inc. grew its stake in Kellogg by 4.2% in the 3rd quarter. BlackRock Inc. now owns 23,257,472 shares of the company’s stock valued at $1,502,200,000 after acquiring an additional 931,569 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Kellogg by 47.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,692,210 shares of the company’s stock valued at $111,787,000 after acquiring an additional 545,078 shares during the last quarter. 85.26% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group cut shares of Kellogg from a “buy” rating to a “neutral” rating and raised their price target for the stock from $71.00 to $73.00 in a research note on Thursday, July 30th. Credit Suisse Group raised their price target on shares of Kellogg from $76.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Royal Bank of Canada reaffirmed a “hold” rating and set a $69.00 price target on shares of Kellogg in a research note on Tuesday, July 28th. Zacks Investment Research raised shares of Kellogg from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, July 29th. Finally, Seaport Global Securities assumed coverage on shares of Kellogg in a research note on Tuesday, July 28th. They set a “buy” rating and a $76.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $71.63.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of Kellogg stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $63.32, for a total transaction of $5,276,645.56. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of Kellogg stock in a transaction that occurred on Friday, November 20th. The shares were sold at an average price of $64.83, for a total transaction of $5,402,543.22. Insiders sold 500,001 shares of company stock worth $32,525,064 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Shares of K stock opened at $65.01 on Friday. The firm has a market cap of $22.34 billion, a P/E ratio of 18.79, a PEG ratio of 4.36 and a beta of 0.63. Kellogg has a 1-year low of $52.66 and a 1-year high of $72.88. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.58. The firm’s 50-day simple moving average is $65.28 and its 200-day simple moving average is $66.15.

Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. Kellogg had a net margin of 8.80% and a return on equity of 41.23%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Kellogg’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts expect that Kellogg will post 4.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.57 dividend. The ex-dividend date is Monday, November 30th. This represents a $2.28 annualized dividend and a yield of 3.51%. Kellogg’s payout ratio is 57.87%.

Kellogg Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Institutional Ownership by Quarter for Kellogg (NYSE:K)

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