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New York State Common Retirement Fund Has $19.50 Million Holdings in Kellogg (NYSE:K)

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New York State Common Retirement Fund grew its position in Kellogg (NYSE:K) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,019 shares of the company’s stock after purchasing an additional 584 shares during the period. New York State Common Retirement Fund’s holdings in Kellogg were worth $19,497,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Ellevest Inc. increased its holdings in shares of Kellogg by 22.1% during the 3rd quarter. Ellevest Inc. now owns 971 shares of the company’s stock valued at $62,000 after acquiring an additional 176 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Kellogg by 2.3% during the 2nd quarter. Jacobi Capital Management LLC now owns 8,299 shares of the company’s stock valued at $534,000 after acquiring an additional 186 shares during the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in shares of Kellogg by 2.4% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 8,537 shares of the company’s stock valued at $546,000 after acquiring an additional 198 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Kellogg by 1.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company’s stock valued at $1,016,000 after acquiring an additional 200 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV increased its holdings in shares of Kellogg by 4.9% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 4,580 shares of the company’s stock valued at $295,000 after acquiring an additional 215 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the firm’s stock in a transaction that occurred on Monday, October 11th. The stock was sold at an average price of $62.73, for a total transaction of $5,227,479.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $62.70, for a total value of $5,225,041.80. The disclosure for this sale can be found here. Insiders sold a total of 250,001 shares of company stock valued at $15,611,729 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

A number of research analysts have recently commented on the company. Morgan Stanley assumed coverage on Kellogg in a report on Tuesday, September 21st. They set a “hold” rating and a $64.00 price objective on the stock. Royal Bank of Canada lowered their target price on Kellogg from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, November 5th. Credit Suisse Group raised their target price on Kellogg from $61.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Kellogg from $74.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, October 21st. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.90.

Shares of K stock opened at $63.89 on Thursday. The stock has a 50 day moving average of $62.84 and a two-hundred day moving average of $63.41. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.75. Kellogg has a 12 month low of $56.61 and a 12 month high of $68.60. The company has a market capitalization of $21.79 billion, a P/E ratio of 17.46, a P/E/G ratio of 3.44 and a beta of 0.59.

Kellogg (NYSE:K) last announced its quarterly earnings data on Thursday, November 4th. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.14. Kellogg had a return on equity of 37.88% and a net margin of 8.86%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the company earned $0.91 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Kellogg will post 4.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were given a $0.58 dividend. The ex-dividend date was Tuesday, November 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.63%. Kellogg’s dividend payout ratio is currently 63.39%.

Kellogg Company Profile

Kellogg Co engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. The firm markets cookies, crackers, crisps, and other convenience foods, under brands such as Kellogg’s, Cheez-It, Pringles, and Austin to supermarkets in the U.S. It operates through the following geographical segments: North America, Europe, Latin America, and AMEA(Asia Middle East Africa).

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