Kellogg (NYSE:K) – Equities research analysts at William Blair issued their Q1 2018 EPS estimates for Kellogg in a research note issued to investors on Thursday. William Blair analyst J. Andersen anticipates 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 topic of a number of other research reports. Susquehanna Bancshares set a $71.00 price target on shares of Kellogg and gave the company a “hold” rating in a research note on Tuesday, October 31st. Bank of America upped their price target on shares of Kellogg from $66.00 to $69.00 and gave the company an “underperform” rating in a research note on Friday. Royal Bank of Canada set a $81.00 price objective on shares of Kellogg and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Citigroup cut their price objective on shares of Kellogg from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Buckingham Research cut their price objective on shares of Kellogg from $79.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $73.19.
Kellogg (NYSE K) opened at $67.07 on Monday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.41 and a current ratio of 0.68. Kellogg has a 52 week low of $58.76 and a 52 week high of $76.56. The stock has a market cap of $23,150.00, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.45 and a beta of 0.47.
Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.96. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business posted $0.92 EPS. Kellogg’s revenue for the quarter was up 3.6% compared to the same quarter last year.
Kellogg declared that its board has initiated a stock buyback plan on Friday, December 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.14, for a total transaction of $5,120,394.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 180,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $67.53, for a total transaction of $12,155,400.00. The disclosure for this sale can be found here. Insiders sold 306,316 shares of company stock worth $20,381,841 in the last quarter. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van Hulzen Asset Management LLC boosted its holdings in Kellogg by 1,181.4% during the fourth quarter. Van Hulzen Asset Management LLC now owns 51,846 shares of the company’s stock worth $3,524,000 after buying an additional 47,800 shares in the last quarter. Bbva Compass Bancshares Inc. lifted its holdings in Kellogg by 21.9% during the fourth 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. Flippin Bruce & Porter Inc. purchased a new position in Kellogg during the fourth quarter valued at $3,647,000. Standard Life Aberdeen plc lifted its holdings in Kellogg by 2.4% during the fourth quarter. Standard Life Aberdeen plc now owns 84,654 shares of the company’s stock valued at $5,756,000 after purchasing an additional 2,006 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in Kellogg by 14.7% during the fourth quarter. OppenheimerFunds Inc. now owns 30,816 shares of the company’s stock valued at $2,094,000 after purchasing an additional 3,938 shares in the last quarter. 90.18% of the stock is currently owned by hedge funds and other institutional investors.
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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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