Luxembourg/Malaga, June 30th 2022 - 36 Square Capital has sold its remaining 80% of its Kellogg's stake due to the intrinsic value current valuation of Kellogg's at estimated 70-75 USD and considering the very high payout ratio on dividends.
In 17 months, 36 Square Capital booked 32% appreciation including dividends on Kelloggs. At the same time, the company has decided to increase its stake into 3M (NYSE:MMM) representing now 10,2% of the total portfolio.
