Kellogg (K) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in shares of Kellogg (NYSE:K) by 86.5% during the first quarter, HoldingsChannel.com reports. The firm owned 24,902 shares of the company’s stock after selling 158,950 shares during the quarter. Teacher Retirement System of Texas’ holdings in Kellogg were worth $1,429,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. IndexIQ Advisors LLC boosted its position in shares of Kellogg by 46.8% in the 1st quarter. IndexIQ Advisors LLC now owns 32,677 shares of the company’s stock valued at $1,875,000 after purchasing an additional 10,415 shares during the period. Sawyer & Company Inc boosted its position in shares of Kellogg by 10.2% in the 1st quarter. Sawyer & Company Inc now owns 2,761 shares of the company’s stock valued at $158,000 after purchasing an additional 255 shares during the period. Toronto Dominion Bank boosted its position in shares of Kellogg by 12.4% in the 1st quarter. Toronto Dominion Bank now owns 217,802 shares of the company’s stock valued at $12,493,000 after purchasing an additional 23,957 shares during the period. Wrapmanager Inc. boosted its position in shares of Kellogg by 7.1% in the 1st quarter. Wrapmanager Inc. now owns 6,736 shares of the company’s stock valued at $387,000 after purchasing an additional 447 shares during the period. Finally, Cetera Advisor Networks LLC boosted its position in shares of Kellogg by 27.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 6,083 shares of the company’s stock valued at $349,000 after purchasing an additional 1,318 shares during the period. 87.86% of the stock is currently owned by institutional investors.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $53.98, for a total value of $5,398,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 700,000 shares of company stock valued at $39,635,000. Company insiders own 0.09% of the company’s stock.

Kellogg stock traded up $0.46 during mid-day trading on Tuesday, hitting $56.90. The company’s stock had a trading volume of 321,214 shares, compared to its average volume of 2,628,936. The company has a market cap of $19.42 billion, a P/E ratio of 13.14, a P/E/G ratio of 3.27 and a beta of 0.56. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 2.75. Kellogg has a 52-week low of $53.14 and a 52-week high of $74.98.

Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.53 billion. Kellogg had a return on equity of 43.13% and a net margin of 8.59%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. On average, equities analysts forecast that Kellogg will post 3.88 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Friday, May 31st. Kellogg’s dividend payout ratio is currently 51.73%.

A number of equities analysts recently weighed in on K shares. ValuEngine upgraded Kellogg from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Credit Suisse Group set a $54.00 price target on Kellogg and gave the company a “hold” rating in a research report on Saturday, February 9th. JPMorgan Chase & Co. decreased their price target on Kellogg to $56.00 and set a “neutral” rating for the company in a research report on Friday, February 8th. Finally, Buckingham Research set a $67.00 price target on Kellogg and gave the company a “buy” rating in a research report on Friday, February 8th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Kellogg has a consensus rating of “Hold” and a consensus target price of $62.98.

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Kellogg Company Profile

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, 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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