Korea Investment CORP increased its stake in shares of Kellogg Company (NYSE:K) by 14.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,443 shares of the company’s stock after buying an additional 10,835 shares during the period. Korea Investment CORP’s holdings in Kellogg were worth $6,004,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in K. State of Alaska Department of Revenue raised its position in shares of Kellogg by 72.0% in the first quarter. State of Alaska Department of Revenue now owns 20,922 shares of the company’s stock valued at $1,518,000 after buying an additional 8,760 shares during the period. City Holding Co. raised its position in shares of Kellogg by 9.2% in the first quarter. City Holding Co. now owns 31,034 shares of the company’s stock valued at $2,253,000 after buying an additional 2,625 shares during the period. Ledyard National Bank raised its position in shares of Kellogg by 10.4% in the first quarter. Ledyard National Bank now owns 5,040 shares of the company’s stock valued at $366,000 after buying an additional 475 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Kellogg by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 79,572 shares of the company’s stock valued at $5,778,000 after buying an additional 4,945 shares during the period. Finally, DnB Asset Management AS raised its position in shares of Kellogg by 8.3% in the first quarter. DnB Asset Management AS now owns 101,680 shares of the company’s stock valued at $7,383,000 after buying an additional 7,800 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Shares of Kellogg Company (NYSE:K) opened at 68.75 on Friday. Kellogg Company has a 12-month low of $65.32 and a 12-month high of $84.01. The company’s 50 day moving average is $67.95 and its 200 day moving average is $71.57. The company has a market capitalization of $23.73 billion, a P/E ratio of 31.12 and a beta of 0.50.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company earned $0.91 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. Analysts expect that Kellogg Company will post $3.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.14%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 30th. Kellogg’s payout ratio is presently 94.12%.

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Several research analysts have recently commented on K shares. Sanford C. Bernstein set a $62.00 price target on shares of Kellogg and gave the stock a “sell” rating in a research note on Tuesday, June 27th. Piper Jaffray Companies set a $78.00 price target on shares of Kellogg and gave the stock a “buy” rating in a research note on Monday. Credit Suisse Group dropped their price target on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, May 5th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $80.00 price target (down previously from $82.00) on shares of Kellogg in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada increased their price target on shares of Kellogg from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $74.50.

In related news, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total transaction of $352,163.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total transaction of $1,852,000.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

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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