Equities research analysts expect Kellogg (NYSE:K) to report earnings per share of $0.95 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Kellogg’s earnings. The highest EPS estimate is $1.01 and the lowest is $0.92. Kellogg reported earnings of $0.99 per share during the same quarter last year, which indicates a negative year over year growth rate of 4%. The business is scheduled to issue its next earnings report before the market opens on Thursday, May 6th.
On average, analysts expect that Kellogg will report full-year earnings of $4.00 per share for the current financial year, with EPS estimates ranging from $3.88 to $4.07. For the next year, analysts anticipate that the business will report earnings of $4.12 per share, with EPS estimates ranging from $3.82 to $4.30. Zacks’ EPS calculations are an average based on a survey of analysts that cover Kellogg.
Kellogg (NYSE:K) last issued its earnings results on Wednesday, February 10th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.03). Kellogg had a net margin of 8.80% and a return on equity of 41.23%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.53 billion.
Several equities research analysts have weighed in on K shares. Jefferies Financial Group dropped their price objective on Kellogg from $69.00 to $65.00 and set a “hold” rating for the company in a report on Tuesday, January 12th. Morgan Stanley dropped their price objective on Kellogg from $64.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, February 12th. Citigroup dropped their price objective on Kellogg from $75.00 to $72.00 in a report on Tuesday, February 16th. JPMorgan Chase & Co. decreased their target price on Kellogg from $67.00 to $58.00 in a research report on Tuesday, January 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Kellogg from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $67.25.
NYSE K traded down $0.41 on Tuesday, hitting $62.48. The company’s stock had a trading volume of 2,628,960 shares, compared to its average volume of 3,287,870. Kellogg has a 52-week low of $56.61 and a 52-week high of $72.88. The company has a current ratio of 0.79, a quick ratio of 0.58 and a debt-to-equity ratio of 1.95. The company’s 50-day simple moving average is $62.77 and its 200 day simple moving average is $61.74. The firm has a market cap of $21.27 billion, a P/E ratio of 17.96, a PEG ratio of 3.71 and a beta of 0.60.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be paid a dividend of $0.58 per share. This is a boost from Kellogg’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, May 28th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.71%. Kellogg’s dividend payout ratio is currently 57.87%.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the company’s stock in a transaction that occurred on Tuesday, April 20th. The stock was sold at an average price of $64.09, for a total transaction of $5,340,876.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 500,001 shares of company stock worth $30,310,063. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in K. Norges Bank purchased a new stake in shares of Kellogg in the fourth quarter valued at approximately $134,626,000. Beutel Goodman & Co Ltd. boosted its holdings in shares of Kellogg by 22.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,751,647 shares of the company’s stock valued at $233,464,000 after purchasing an additional 677,403 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Kellogg in the fourth quarter valued at approximately $40,259,000. Lazard Asset Management LLC boosted its holdings in shares of Kellogg by 167.7% in the fourth quarter. Lazard Asset Management LLC now owns 805,767 shares of the company’s stock valued at $50,142,000 after purchasing an additional 504,765 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Kellogg by 17.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,751,494 shares of the company’s stock valued at $171,225,000 after purchasing an additional 413,570 shares during the period. Hedge funds and other institutional investors own 86.08% of the company’s stock.
Kellogg Company Profile
Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars and bites, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.
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