Kellogg (NYSE:K) Expected to Announce Earnings of $0.95 Per Share


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Wall Street brokerages 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, with estimates ranging from $0.92 to $1.01. Kellogg reported earnings per share of $0.99 in the same quarter last year, which would indicate a negative year over year growth rate of 4%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, May 6th.

According to Zacks, analysts expect that Kellogg will report full-year earnings of $4.00 per share for the current year, with EPS estimates ranging from $3.88 to $4.07. For the next financial year, analysts anticipate that the company 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 research analysts that follow Kellogg.

Kellogg (NYSE:K) last announced its earnings results on Wednesday, February 10th. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.03). Kellogg had a return on equity of 41.23% and a net margin of 8.80%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.53 billion.

K has been the subject of a number of research reports. Morgan Stanley lowered their price target on Kellogg from $64.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, February 12th. Jefferies Financial Group lowered their price target on Kellogg from $69.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, January 12th. JPMorgan Chase & Co. decreased their price objective on Kellogg from $67.00 to $58.00 in a report on Tuesday, January 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on Kellogg from $75.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, April 28th. Finally, Citigroup decreased their price objective on Kellogg from $75.00 to $72.00 in a report on Tuesday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Kellogg has an average rating of “Hold” and a consensus price target of $67.25.

K traded down $0.41 on Tuesday, reaching $62.48. 2,628,960 shares of the stock were exchanged, compared to its average volume of 3,287,870. The company’s 50-day moving average price is $62.77 and its 200 day moving average price is $61.74. Kellogg has a fifty-two week low of $56.61 and a fifty-two week high of $72.88. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.58. The firm has a market capitalization of $21.27 billion, a PE ratio of 17.96, a PEG ratio of 3.71 and a beta of 0.60.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be issued a $0.58 dividend. This is a boost from Kellogg’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, May 28th. This represents a $2.32 dividend on an annualized basis and a yield of 3.71%. Kellogg’s dividend payout ratio is presently 57.87%.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the company’s stock in a transaction dated Tuesday, April 20th. The stock was sold at an average price of $64.09, for a total value of $5,340,876.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 500,001 shares of company stock valued at $30,310,063 in the last ninety days. 1.10% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Sage Capital Advisors llc increased its stake in Kellogg by 805.6% during the 1st quarter. Sage Capital Advisors llc now owns 99,619 shares of the company’s stock worth $6,306,000 after buying an additional 88,619 shares in the last quarter. Flippin Bruce & Porter Inc. increased its stake in Kellogg by 14.4% during the 1st quarter. Flippin Bruce & Porter Inc. now owns 205,052 shares of the company’s stock worth $12,979,000 after buying an additional 25,808 shares in the last quarter. Toews Corp ADV purchased a new stake in Kellogg during the 1st quarter worth approximately $937,000. Griffin Asset Management Inc. increased its stake in Kellogg by 2.1% during the 1st quarter. Griffin Asset Management Inc. now owns 15,690 shares of the company’s stock worth $993,000 after buying an additional 330 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Kellogg by 2.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,361 shares of the company’s stock worth $3,694,000 after buying an additional 1,637 shares in the last quarter. Institutional investors own 86.08% 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 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.

Further Reading: Compound Annual Growth Rate (CAGR)

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Earnings History and Estimates for Kellogg (NYSE:K)

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