Analysts Anticipate Kellogg (K) Will Announce Earnings of $0.88 Per Share

Equities research analysts forecast that Kellogg (NYSE:K) will post earnings of $0.88 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Kellogg’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.86. Kellogg posted earnings per share of $0.96 in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.3%. The business is scheduled to issue its next earnings results on Thursday, February 14th.

On average, analysts expect that Kellogg will report full-year earnings of $4.31 per share for the current financial year, with EPS estimates ranging from $4.29 to $4.33. For the next financial year, analysts anticipate that the firm will report earnings of $4.28 per share, with EPS estimates ranging from $4.00 to $4.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Kellogg.

Kellogg (NYSE:K) last released its quarterly earnings data on Wednesday, October 31st. The company reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.07 by ($0.01). The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Kellogg had a net margin of 13.75% and a return on equity of 51.32%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS.

Several brokerages recently weighed in on K. Morgan Stanley began coverage on Kellogg in a research note on Monday, September 17th. They issued an “equal weight” rating and a $75.00 price target for the company. Piper Jaffray Companies set a $79.00 price target on Kellogg and gave the company a “buy” rating in a research note on Tuesday, October 16th. Zacks Investment Research lowered Kellogg from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. ValuEngine upgraded Kellogg from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, Buckingham Research cut their price target on Kellogg from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $70.22.

NYSE K opened at $60.84 on Friday. The stock has a market cap of $21.26 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 2.30 and a beta of 0.51. Kellogg has a fifty-two week low of $56.40 and a fifty-two week high of $74.98. The company has a quick ratio of 0.52, a current ratio of 0.84 and a debt-to-equity ratio of 2.41.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $2.24 annualized dividend and a yield of 3.68%. Kellogg’s dividend payout ratio (DPR) is currently 55.45%.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 215,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $74.61, for a total transaction of $16,041,150.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steven A. Cahillane bought 17,825 shares of the stock in a transaction dated Monday, November 19th. The shares were bought at an average price of $61.63 per share, for a total transaction of $1,098,554.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 600,000 shares of company stock valued at $41,536,950. 1.40% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Honkamp Krueger Financial Services Inc. acquired a new position in shares of Kellogg during the 3rd quarter worth approximately $101,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Kellogg during the 2nd quarter worth approximately $103,000. Financial Architects Inc acquired a new position in shares of Kellogg during the 3rd quarter worth approximately $111,000. Captrust Financial Advisors boosted its holdings in shares of Kellogg by 216.4% during the 3rd quarter. Captrust Financial Advisors now owns 1,585 shares of the company’s stock worth $111,000 after purchasing an additional 1,084 shares during the last quarter. Finally, TLP Group LLC acquired a new position in shares of Kellogg during the 3rd quarter worth approximately $120,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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