Zacks: Analysts Expect Kellogg (NYSE:K) to Post $0.94 Earnings Per Share

Wall Street brokerages forecast that Kellogg (NYSE:K) will report $0.94 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Kellogg’s earnings. The lowest EPS estimate is $0.86 and the highest is $1.02. Kellogg reported earnings of $1.14 per share in the same quarter last year, which indicates a negative year over year growth rate of 17.5%. The firm is expected to report its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Kellogg will report full-year earnings of $3.86 per share for the current fiscal year, with EPS estimates ranging from $3.76 to $3.95. For the next financial year, analysts expect that the company will post earnings of $4.10 per share, with EPS estimates ranging from $3.86 to $4.39. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Kellogg.

Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.06. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.53 billion. Kellogg had a net margin of 8.59% and a return on equity of 43.13%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS.

Several brokerages have recently commented on K. Morgan Stanley set a $56.00 target price on shares of Kellogg and gave the company a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Zacks Investment Research cut shares of Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Piper Jaffray Companies dropped their target price on shares of Kellogg from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Kellogg has an average rating of “Hold” and an average price target of $62.98.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $57.17, for a total transaction of $5,717,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 600,000 shares of company stock valued at $33,937,000. 0.09% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. JOYN Advisors Inc. increased its position in Kellogg by 38.9% in the 4th quarter. JOYN Advisors Inc. now owns 660 shares of the company’s stock valued at $38,000 after acquiring an additional 185 shares during the period. Sun Life Financial INC boosted its stake in shares of Kellogg by 0.9% in the 4th quarter. Sun Life Financial INC now owns 21,889 shares of the company’s stock valued at $1,249,000 after purchasing an additional 199 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Kellogg by 3.3% in the 1st quarter. Moors & Cabot Inc. now owns 6,301 shares of the company’s stock valued at $357,000 after purchasing an additional 200 shares during the last quarter. Bell Rock Capital LLC boosted its stake in shares of Kellogg by 13.0% in the 1st quarter. Bell Rock Capital LLC now owns 2,161 shares of the company’s stock valued at $125,000 after purchasing an additional 249 shares during the last quarter. Finally, Sawyer & Company Inc boosted its stake in shares of Kellogg by 10.2% in the 1st quarter. Sawyer & Company Inc now owns 2,761 shares of the company’s stock valued at $158,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.

NYSE K traded up $0.02 during trading on Monday, reaching $56.63. The company’s stock had a trading volume of 1,290,958 shares, compared to its average volume of 1,863,118. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $19.28 billion, a P/E ratio of 13.08, a P/E/G ratio of 3.26 and a beta of 0.64. Kellogg has a 12 month low of $51.34 and a 12 month high of $74.98.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Friday, May 31st. Kellogg’s dividend payout ratio is 51.73%.

About Kellogg

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

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Earnings History and Estimates for Kellogg (NYSE:K)

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