Forsta Ap-fonden adds Kellogg Company (K) to its portfolio

Kellogg Company (K) : Forsta Ap-fonden added new position in Kellogg Company during the most recent quarter end. The investment management firm now holds 272,732 shares of Kellogg Company which is valued at $22,762,213 , the company said in a statement filed on Aug 8, 2016 with the SEC.Kellogg Company makes up approximately 0.64% of Forsta Ap-fonden’s portfolio.

Other Hedge Funds, Including , Los Angeles Capital Management Equity Research Inc boosted its stake in K in the latest quarter, The investment management firm added 564,210 additional shares and now holds a total of 911,789 shares of Kellogg Company which is valued at $76,097,910. Kellogg Company makes up approx 0.63% of Los Angeles Capital Management Equity Research Inc’s portfolio.New Mexico Educational Retirement Board boosted its stake in K in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 29,390 shares of Kellogg Company which is valued at $2,382,941. Kellogg Company makes up approx 0.10% of New Mexico Educational Retirement Board’s portfolio. Hutchinson Capital Managementca sold out all of its stake in K during the most recent quarter. The investment firm sold 2,850 shares of K which is valued $231,078.Nn Investment Partners Holdings N.v. boosted its stake in K in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 1,704 shares of Kellogg Company which is valued at $141,619.

Kellogg Company closed down -0.14 points or -0.17% at $83.39 with 14,66,496 shares getting traded on Monday. Post opening the session at $83.38, the shares hit an intraday low of $83.175 and an intraday high of $83.83 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Investors should note that on Jul 29, 2016, Kellogg Company announced a cash dividend of $0.5200. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Kellogg Company. Company shares were Reiterated by Citigroup on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .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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