Equities research analysts forecast that Kellogg’s (NYSE:K) will report earnings per share (EPS) of $1.05 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Kellogg’s’ earnings. The lowest EPS estimate is $1.03 and the highest is $1.08. Kellogg’s posted earnings per share of $0.97 during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The company is scheduled to announce its next earnings report on Thursday, August 2nd.
On average, analysts expect that Kellogg’s will report full-year earnings of $4.46 per share for the current fiscal year, with EPS estimates ranging from $4.40 to $4.50. For the next financial year, analysts forecast that the company will report earnings of $4.73 per share, with EPS estimates ranging from $4.70 to $4.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Kellogg’s.
Kellogg’s (NYSE:K) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.11. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.30 billion. Kellogg’s had a net margin of 11.10% and a return on equity of 67.81%. Kellogg’s’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share.
A number of brokerages recently weighed in on K. Pivotal Research reissued a “buy” rating and issued a $90.00 price target on shares of Kellogg’s in a report on Thursday, May 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $72.00 price target on shares of Kellogg’s in a report on Tuesday, April 24th. Bank of America raised their price target on shares of Kellogg’s from $66.00 to $69.00 and gave the company an “underperform” rating in a report on Friday, February 9th. Citigroup lowered their price target on shares of Kellogg’s from $91.00 to $87.00 and set a “buy” rating for the company in a report on Friday, February 9th. Finally, ValuEngine lowered shares of Kellogg’s from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.53.
Shares of Kellogg’s traded down $0.99, reaching $60.19, during midday trading on Friday, Marketbeat reports. The company had a trading volume of 3,741,734 shares, compared to its average volume of 3,219,710. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.74 and a quick ratio of 0.47. The firm has a market cap of $21.22 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.87 and a beta of 0.47. Kellogg’s has a 1-year low of $56.40 and a 1-year high of $74.28.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, May 31st. Kellogg’s’s dividend payout ratio is presently 53.47%.
In other news, major shareholder Kellogg W. K. Foundation Trust sold 175,000 shares of Kellogg’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $61.37, for a total transaction of $10,739,750.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul T. Norman sold 167,497 shares of Kellogg’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.86, for a total transaction of $11,533,843.42. The disclosure for this sale can be found here. Insiders have sold a total of 818,763 shares of company stock valued at $54,086,127 in the last ninety days. Company insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Calton & Associates Inc. bought a new position in shares of Kellogg’s during the fourth quarter worth $112,000. Resources Investment Advisors Inc. lifted its position in Kellogg’s by 65.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,859 shares of the company’s stock valued at $127,000 after acquiring an additional 737 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Kellogg’s in the 4th quarter valued at $128,000. NuWave Investment Management LLC bought a new stake in Kellogg’s in the 1st quarter valued at $139,000. Finally, QCI Asset Management Inc. NY lifted its position in Kellogg’s by 985.2% in the 1st quarter. QCI Asset Management Inc. NY now owns 2,203 shares of the company’s stock valued at $143,000 after acquiring an additional 2,000 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.
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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