Kellogg Company (K) Expected to Post Earnings of $0.95 Per Share
Equities analysts predict that Kellogg Company (NYSE:K) will report earnings of $0.95 per share for the current fiscal 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 $0.99. Kellogg reported earnings per share of $0.96 during the same quarter last year, which suggests a negative year over year growth rate of 1%. The firm is expected to announce its next earnings results on Tuesday, November 7th.
On average, analysts expect that Kellogg will report full-year earnings of $3.97 per share for the current fiscal year, with EPS estimates ranging from $3.93 to $3.99. For the next year, analysts anticipate that the firm will report earnings of $4.28 per share, with EPS estimates ranging from $4.12 to $4.44. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Kellogg.
Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS.
A number of equities analysts recently commented on the company. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $80.00 price target (down previously from $82.00) on shares of Kellogg in a report on Tuesday, April 25th. Royal Bank Of Canada reduced their price target on Kellogg from $84.00 to $81.00 and set a “sector perform” rating for the company in a report on Friday, May 5th. UBS AG reduced their price target on Kellogg from $81.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Credit Suisse Group reduced their price target on Kellogg from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Finally, TheStreet upgraded Kellogg from a “c+” rating to a “b+” rating in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $74.67.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of Kellogg stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Dillon sold 4,900 shares of Kellogg stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $71.87, for a total transaction of $352,163.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. City Holding Co. increased its stake in Kellogg by 9.2% in the first quarter. City Holding Co. now owns 31,034 shares of the company’s stock worth $2,253,000 after buying an additional 2,625 shares during the last quarter. Ledyard National Bank increased its stake in Kellogg by 10.4% in the first quarter. Ledyard National Bank now owns 5,040 shares of the company’s stock worth $366,000 after buying an additional 475 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Kellogg by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 79,572 shares of the company’s stock worth $5,778,000 after buying an additional 4,945 shares during the last quarter. DnB Asset Management AS increased its stake in Kellogg by 8.3% in the first quarter. DnB Asset Management AS now owns 101,680 shares of the company’s stock worth $7,383,000 after buying an additional 7,800 shares during the last quarter. Finally, Somerset Trust Co increased its stake in Kellogg by 1.9% in the first quarter. Somerset Trust Co now owns 15,590 shares of the company’s stock worth $1,132,000 after buying an additional 295 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.
Kellogg (NYSE K) traded down 1.27% during mid-day trading on Tuesday, hitting $69.22. The stock had a trading volume of 1,702,661 shares. Kellogg has a 52 week low of $65.32 and a 52 week high of $84.28. The stock’s 50-day moving average is $68.54 and its 200 day moving average is $71.70. The company has a market capitalization of $24.25 billion, a P/E ratio of 31.32 and a beta of 0.50.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s payout ratio is currently 94.12%.
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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