Everence Capital Management Inc buys $1,382,009 stake in Kellogg Company (K)

Kellogg Company (K) : Everence Capital Management Inc scooped up 1,930 additional shares in Kellogg Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 17,045 shares of Kellogg Company which is valued at $1,382,009.Kellogg Company makes up approximately 0.41% of Everence Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in K in the latest quarter, The investment management firm added 186,704 additional shares and now holds a total of 288,502 shares of Kellogg Company which is valued at $23,391,742. Kellogg Company makes up approx 0.30% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.1st Source Bank reduced its stake in K by selling 795 shares or 12.42% in the most recent quarter. The Hedge Fund company now holds 5,607 shares of K which is valued at $463,755. Kellogg Company makes up approx 0.05% of 1st Source Bank’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in K by selling 497 shares or 6.7% in the most recent quarter. The Hedge Fund company now holds 6,918 shares of K which is valued at $562,226. Kellogg Company makes up approx 0.06% of Tokio Marine Asset Management Co Ltd’s portfolio.Ibm Retirement Fund boosted its stake in K in the latest quarter, The investment management firm added 61 additional shares and now holds a total of 32,863 shares of Kellogg Company which is valued at $2,723,028. Kellogg Company makes up approx 0.10% of Ibm Retirement Fund’s portfolio.

Kellogg Company opened for trading at $82.44 and hit $84.1 on the upside on Thursday, eventually ending the session at $82.42, with a gain of 1.65% or 1.34 points. The heightened volatility saw the trading volume jump to 26,52,177 shares. Company has a market cap of $28,851 M.

On the company’s financial health, Kellogg Company reported $0.91 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.91. The company had revenue of $3268.00 million for the quarter, compared to analysts expectations of $3362.13 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Credit Suisse on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 94 from a previous price target of $84 .

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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