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Mutual of America Capital Management LLC Grows Position in Kellogg Company (K)

Mutual of America Capital Management LLC increased its position in shares of Kellogg Company (NYSE:K) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,082 shares of the company’s stock after purchasing an additional 1,211 shares during the period. Mutual of America Capital Management LLC’s holdings in Kellogg were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission.

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Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Kellogg by 2,851.0% in the 1st quarter. BlackRock Inc. now owns 20,167,806 shares of the company’s stock valued at $1,464,385,000 after purchasing an additional 19,484,390 shares during the period. Renaissance Technologies LLC grew its position in shares of Kellogg by 73.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,157,600 shares of the company’s stock worth $229,273,000 after purchasing an additional 1,336,400 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Kellogg by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 20,273,984 shares of the company’s stock worth $1,472,094,000 after purchasing an additional 1,248,613 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Kellogg by 81.3% during the 2nd quarter. Schroder Investment Management Group now owns 1,563,641 shares of the company’s stock worth $107,406,000 after purchasing an additional 701,375 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in shares of Kellogg by 28.8% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 2,757,435 shares of the company’s stock worth $147,525,000 after purchasing an additional 616,120 shares in the last quarter. 85.40% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have recently weighed in on K shares. Piper Jaffray Companies downgraded Kellogg from an “overweight” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, September 19th. BMO Capital Markets restated a “hold” rating and issued a $78.00 price target on shares of Kellogg in a research report on Wednesday, September 6th. Deutsche Bank AG restated a “hold” rating and issued a $74.00 price target (up previously from $71.00) on shares of Kellogg in a research report on Wednesday, August 9th. Royal Bank Of Canada boosted their price target on Kellogg from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research downgraded Kellogg from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $74.50.

Kellogg Company (NYSE:K) opened at 62.72 on Tuesday. The firm has a 50-day moving average price of $66.92 and a 200-day moving average price of $69.70. The company has a market cap of $21.65 billion, a PE ratio of 28.39 and a beta of 0.48. Kellogg Company has a 52-week low of $61.70 and a 52-week high of $78.37.

Kellogg (NYSE:K) last posted its earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts forecast that Kellogg Company will post $3.97 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.54 per share. This is a positive change from Kellogg’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Wednesday, August 30th. Kellogg’s payout ratio is 97.74%.

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.