Research Analysts Set Expectations for Kellogg’s Q1 2018 Earnings (K)

Kellogg (NYSE:K) – Research analysts at William Blair issued their Q1 2018 earnings estimates for shares of Kellogg in a research note issued to investors on Thursday. William Blair analyst J. Andersen expects that the company will post earnings per share of $1.07 for the quarter. William Blair also issued estimates for Kellogg’s Q2 2018 earnings at $1.09 EPS, Q3 2018 earnings at $1.16 EPS, Q4 2018 earnings at $1.12 EPS, FY2018 earnings at $4.45 EPS and FY2019 earnings at $4.70 EPS.

K has been the subject of a number of other reports. Susquehanna Bancshares set a $71.00 price target on shares of Kellogg and gave the company a “hold” rating in a research report on Tuesday, October 31st. Bank of America boosted their price target on shares of Kellogg from $66.00 to $69.00 and gave the company an “underperform” rating in a research report on Friday. Royal Bank of Canada set a $81.00 price target on shares of Kellogg and gave the company a “hold” rating in a research report on Wednesday, October 18th. Citigroup reduced their price target on shares of Kellogg from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Friday. Finally, Buckingham Research reduced their price target on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.19.

Kellogg (NYSE K) opened at $67.33 on Monday. The company has a market cap of $23,240.00, a price-to-earnings ratio of 18.55, a PEG ratio of 2.50 and a beta of 0.47. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.52. Kellogg has a 1 year low of $58.76 and a 1 year high of $76.56.

Kellogg (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS.

Kellogg declared that its Board of Directors has approved a stock repurchase plan on Friday, December 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 3,195 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $65.00, for a total transaction of $207,675.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 44,515 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $65.11, for a total transaction of $2,898,371.65. Following the sale, the insider now owns 67,887,323 shares of the company’s stock, valued at $4,420,143,600.53. The disclosure for this sale can be found here. Insiders sold 306,316 shares of company stock valued at $20,381,841 over the last quarter. 1.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Kellogg by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 591,672 shares of the company’s stock valued at $41,095,000 after acquiring an additional 15,096 shares during the last quarter. Numeric Investors LLC raised its stake in shares of Kellogg by 68.8% during the second quarter. Numeric Investors LLC now owns 5,400 shares of the company’s stock valued at $375,000 after acquiring an additional 2,200 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Kellogg by 10.8% during the second quarter. Cubist Systematic Strategies LLC now owns 10,603 shares of the company’s stock valued at $736,000 after acquiring an additional 1,035 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Kellogg by 28.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 52,522 shares of the company’s stock valued at $3,648,000 after acquiring an additional 11,785 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in shares of Kellogg by 19.5% during the second quarter. Verition Fund Management LLC now owns 6,855 shares of the company’s stock valued at $476,000 after acquiring an additional 1,120 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

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About Kellogg

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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