Analysts expect that Kellogg (NYSE:K) will report $3.30 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Kellogg’s earnings, with the highest sales estimate coming in at $3.33 billion and the lowest estimate coming in at $3.29 billion. Kellogg posted sales of $3.25 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.5%. The firm is expected to announce its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Kellogg will report full year sales of $3.30 billion for the current fiscal year, with estimates ranging from $12.85 billion to $13.18 billion. For the next fiscal year, analysts expect that the business will post sales of $13.16 billion per share, with estimates ranging from $13.05 billion to $13.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Kellogg.
Kellogg (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The firm’s revenue was up 3.6% on a year-over-year basis.
Kellogg (NYSE K) opened at $69.83 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 3.52. Kellogg has a twelve month low of $58.76 and a twelve month high of $75.31. The company has a market cap of $24,120.00, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 2.16 and a beta of 0.48.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Monday, March 5th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, March 2nd. Kellogg’s dividend payout ratio is currently 59.34%.
Kellogg announced that its Board of Directors has authorized a share buyback program on Friday, December 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Amit Banati sold 2,767 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $67.97, for a total transaction of $188,072.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary H. Pilnick sold 4,400 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $67.55, for a total transaction of $297,220.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 623,763 shares of company stock valued at $42,787,777. 1.40% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Sun Life Financial INC raised its position in Kellogg by 73.4% during the 4th quarter. Sun Life Financial INC now owns 23,795 shares of the company’s stock worth $1,617,000 after buying an additional 10,069 shares during the last quarter. Flippin Bruce & Porter Inc. purchased a new position in shares of Kellogg in the 4th quarter valued at about $3,647,000. Bbva Compass Bancshares Inc. increased its holdings in shares of Kellogg by 21.9% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 6,305 shares of the company’s stock valued at $429,000 after purchasing an additional 1,134 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Kellogg in the 3rd quarter valued at about $4,238,000. Finally, Toronto Dominion Bank increased its holdings in shares of Kellogg by 10.9% in the 3rd quarter. Toronto Dominion Bank now owns 142,516 shares of the company’s stock valued at $8,893,000 after purchasing an additional 14,013 shares in the last quarter. Institutional investors own 91.89% of the company’s stock.
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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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