Kellogg Company (NYSE:K) to Release Earnings on Thursday
Kellogg Company (NYSE:K) is scheduled to post its quarterly earnings results before the market opens on Thursday, August 3rd. Analysts expect Kellogg to post earnings of $0.92 per share for the quarter.
Kellogg (NYSE:K) last announced its earnings results on Thursday, May 4th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.28 billion. Kellogg had a return on equity of 67.99% and a net margin of 6.07%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. On average, analysts expect Kellogg to post $3.93 EPS for the current fiscal year and $4.25 EPS for the next fiscal year.
Shares of Kellogg Company (K) traded down 0.06% during mid-day trading on Thursday, hitting $67.27. The stock had a trading volume of 443,025 shares. The stock has a 50-day moving average price of $69.12 and a 200 day moving average price of $71.82. Kellogg Company has a 52 week low of $65.32 and a 52 week high of $84.28. The stock has a market cap of $23.56 billion, a P/E ratio of 30.44 and a beta of 0.50.
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A number of research analysts have weighed in on K shares. Sanford C. Bernstein set a $62.00 target price on shares of Kellogg and gave the stock a “sell” rating in a research report on Tuesday, June 27th. Credit Suisse Group cut their target price on shares of Kellogg from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, May 5th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $80.00 target price (down previously from $82.00) on shares of Kellogg in a research report on Tuesday, April 25th. Zacks Investment Research lowered shares of Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $69.00 target price (down previously from $74.00) on shares of Kellogg in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $77.82.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $74.08, for a total value of $1,852,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James M. Jenness sold 70,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $71.06, for a total transaction of $4,974,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,900 shares of company stock worth $7,178,363. Insiders own 1.30% of the company’s stock.
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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