Pensionfund Sabic Lowers stake in Kellogg Company (K)

Kellogg Company (K) : Pensionfund Sabic reduced its stake in Kellogg Company by 15.1% during the most recent quarter end. The investment management company now holds a total of 20,800 shares of Kellogg Company which is valued at $1.6 Million after selling 3,700 shares in Kellogg Company according to a report filed by the company on Apr 4, 2016 with the SEC.Kellogg Company makes up approximately 0.49% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Lvm Capital Management Ltdmi reduced its stake in K by selling 17,000 shares or 29.98% in the most recent quarter. The Hedge Fund company now holds 39,699 shares of K which is valued at $3.1 Million. Kellogg Company makes up approx 0.97% of Lvm Capital Management Ltdmi’s portfolio.

On the company’s financial health, Kellogg Company reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.74. The company had revenue of $3142.00 million for the quarter, compared to analysts expectations of $3142.30 million. The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Credit Suisse on Apr 6, 2016 to “Outperform”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .Kellogg Company was Upgraded by Goldman to ” Neutral” on Mar 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Feb 12, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 78 from a previous price target of $74 .

Kellogg Company closed down -0.26 points or -0.34% at $76.99 with 10,91,836 shares getting traded on Monday. Post opening the session at $77.36, the shares hit an intraday low of $76.88 and an intraday high of $77.83 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. The Company’s cereal products are generally marketed under the Kellogg’s name and are sold to the grocery trade through direct sales forces for resale to consumers. The Company also markets cookies crackers crisps and other convenience foods under brands such as Kellogg’s Keebler Cheez-It Murray Austin and Famous Amos to supermarkets in the United States through a direct store-door (DSD) delivery system although other distribution methods are also used. The Company uses broker and distributor arrangements for certain products. It also uses similar arrangements in less-developed market areas or in those market areas outside of its focus.

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