Kellogg (NYSE:K) Expected to Post Earnings of $0.85 Per Share

Wall Street brokerages forecast that Kellogg (NYSE:K) will announce $0.85 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Kellogg’s earnings, with estimates ranging from $0.82 to $0.90. Kellogg posted earnings of $0.91 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.6%. The firm is scheduled to announce its next earnings report on Thursday, February 6th.

On average, analysts expect that Kellogg will report full year earnings of $3.89 per share for the current financial year, with EPS estimates ranging from $3.86 to $3.93. For the next financial year, analysts expect that the business will report earnings of $4.03 per share, with EPS estimates ranging from $3.96 to $4.14. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Kellogg.

Kellogg (NYSE:K) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year.

Several research analysts have commented on the company. Barclays lowered Kellogg to an “equal weight” rating in a research report on Tuesday, October 15th. Evercore ISI began coverage on Kellogg in a research report on Thursday, October 24th. They issued an “in-line” rating and a $67.00 target price for the company. Credit Suisse Group set a $60.00 target price on Kellogg and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Edward Jones upgraded Kellogg from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Goldman Sachs Group upgraded Kellogg from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $72.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. Kellogg has an average rating of “Hold” and an average price target of $63.20.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $65.19, for a total transaction of $6,519,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Alistair D. Hirst sold 2,500 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $63.88, for a total transaction of $159,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 625,291 shares of company stock worth $39,662,106. Insiders own 0.09% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in Kellogg by 1.7% during the second quarter. Janney Montgomery Scott LLC now owns 16,004 shares of the company’s stock valued at $857,000 after purchasing an additional 271 shares during the last quarter. First Trust Advisors LP raised its stake in Kellogg by 22.4% during the second quarter. First Trust Advisors LP now owns 977,413 shares of the company’s stock worth $52,360,000 after acquiring an additional 178,902 shares during the period. Alpha Windward LLC raised its stake in Kellogg by 7.1% during the second quarter. Alpha Windward LLC now owns 2,799 shares of the company’s stock worth $164,000 after acquiring an additional 185 shares during the period. KBC Group NV lifted its holdings in Kellogg by 24.3% in the second quarter. KBC Group NV now owns 662,832 shares of the company’s stock worth $35,508,000 after acquiring an additional 129,497 shares during the last quarter. Finally, AGF Investments LLC lifted its holdings in Kellogg by 39.4% in the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock worth $44,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 86.98% of the company’s stock.

Kellogg stock traded up $0.32 during trading on Monday, reaching $66.54. 1,255,483 shares of the company’s stock were exchanged, compared to its average volume of 2,332,333. Kellogg has a 52-week low of $51.34 and a 52-week high of $66.85. The firm has a market cap of $22.59 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.84 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. The company’s 50-day moving average is $63.88 and its two-hundred day moving average is $60.55.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, November 29th. Kellogg’s payout ratio is 52.66%.

Kellogg Company Profile

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.

See Also: What is range trading?

Get a free copy of the Zacks research report on Kellogg (K)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kellogg (NYSE:K)

Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.