$0.93 Earnings Per Share Expected for Kellogg Company (NYSE:K) This Quarter
Equities analysts predict that Kellogg Company (NYSE:K) will announce earnings per share (EPS) of $0.93 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Kellogg’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $0.97. Kellogg reported earnings per share of $0.91 in the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The business is expected to report its next earnings report before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that Kellogg will report full-year earnings of $3.93 per share for the current year, with EPS estimates ranging from $3.85 to $3.95. For the next fiscal year, analysts anticipate that the company will report earnings of $4.25 per share, with EPS estimates ranging from $4.15 to $4.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Kellogg.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, May 4th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Kellogg had a net margin of 6.07% and a return on equity of 67.99%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the company earned $0.97 earnings per share. Kellogg’s revenue for the quarter was down 4.2% on a year-over-year basis.
Several research firms recently weighed in on K. UBS AG reduced their target price on Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Susquehanna Bancshares Inc set a $78.00 target price on Kellogg and gave the stock a “hold” rating in a report on Wednesday, June 14th. Morgan Stanley restated an “equal weight” rating and issued a $69.00 target price (down from $74.00) on shares of Kellogg in a report on Tuesday. Zacks Investment Research upgraded Kellogg from a “sell” rating to a “hold” rating in a report on Monday, June 12th. Finally, Piper Jaffray Companies began coverage on Kellogg in a report on Wednesday, May 24th. They issued an “overweight” rating and a $78.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $77.82.
Shares of Kellogg (K) traded up 0.641% during mid-day trading on Wednesday, reaching $66.685. 527,915 shares of the company’s stock traded hands. The company has a market capitalization of $23.36 billion, a P/E ratio of 30.174 and a beta of 0.50. The firm has a 50-day moving average price of $70.06 and a 200-day moving average price of $72.07. Kellogg has a 1-year low of $65.32 and a 1-year high of $87.00.
In other news, Director John T. Dillon sold 4,900 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $71.87, for a total transaction of $352,163.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James M. Jenness sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $71.06, for a total value of $4,974,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,900 shares of company stock worth $7,178,363. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in K. Exane Derivatives boosted its stake in shares of Kellogg by 312.5% in the first quarter. Exane Derivatives now owns 1,852 shares of the company’s stock worth $134,000 after buying an additional 1,403 shares during the period. Pathstone Family Office LLC bought a new stake in shares of Kellogg during the first quarter worth $143,000. Security National Trust Co. boosted its stake in shares of Kellogg by 7.2% in the first quarter. Security National Trust Co. now owns 2,066 shares of the company’s stock worth $150,000 after buying an additional 139 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Kellogg by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock worth $161,000 after buying an additional 31 shares during the period. Finally, CWM LLC boosted its stake in shares of Kellogg by 5.3% in the second quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 83.30% of the company’s stock.
Kellogg Company Profile
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.
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