Kellogg (NYSE:K) Plans $0.57 Quarterly Dividend

Kellogg (NYSE:K) declared a quarterly dividend on Thursday, October 17th, RTT News reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.57 per share on Monday, December 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, November 29th.

K stock opened at $65.61 on Thursday. The firm has a 50 day moving average price of $63.28 and a 200-day moving average price of $60.20. Kellogg has a 52-week low of $51.34 and a 52-week high of $65.94. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 3.68 and a beta of 0.52. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.52 and a current ratio of 0.80.

Kellogg (NYSE:K) last released its earnings results on Tuesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.12. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the business earned $1.06 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kellogg will post 3.89 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Edward Jones raised shares of Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI assumed coverage on shares of Kellogg in a research report on Thursday, October 24th. They set an “in-line” rating and a $67.00 price target for the company. TheStreet raised shares of Kellogg from a “c+” rating to a “b-” rating in a research report on Monday, August 12th. Royal Bank of Canada assumed coverage on shares of Kellogg in a research report on Thursday, October 17th. They set a “sector perform” rating and a $65.00 price target for the company. Finally, Goldman Sachs Group raised shares of Kellogg from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $72.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. Kellogg has a consensus rating of “Hold” and a consensus target price of $63.20.

In other Kellogg news, SVP Alistair D. Hirst sold 2,500 shares of Kellogg stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $63.88, for a total value of $159,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $65.19, for a total transaction of $6,519,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,291 shares of company stock valued at $39,662,106. 0.09% of the stock is currently owned by insiders.

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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Dividend History for Kellogg (NYSE:K)

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