$0.96 Earnings Per Share Expected for Kellogg Company (K) This Quarter

Wall Street analysts expect that Kellogg Company (NYSE:K) will post $0.96 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Kellogg’s earnings. The highest EPS estimate is $0.98 and the lowest is $0.94. Kellogg reported earnings per share of $0.92 during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The company is expected to announce its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Kellogg will report full-year earnings of $4.02 per share for the current financial year, with EPS estimates ranging from $3.95 to $4.05. For the next fiscal year, analysts anticipate that the business will post earnings of $4.29 per share, with EPS estimates ranging from $4.14 to $4.48. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Kellogg.

Kellogg (NYSE:K) last released its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS.

A number of brokerages have commented on K. Royal Bank Of Canada set a $81.00 target price on Kellogg and gave the company a “hold” rating in a report on Wednesday, October 18th. Piper Jaffray Companies cut Kellogg from an “overweight” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Tuesday, September 19th. Credit Suisse Group lowered their target price on Kellogg from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Morgan Stanley reiterated an “equal weight” rating and set a $69.00 target price (down previously from $74.00) on shares of Kellogg in a report on Tuesday, July 18th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $78.00 target price on shares of Kellogg in a report on Wednesday, September 6th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $71.00.

In related news, Chairman John A. Bryant sold 190,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $63.01, for a total value of $11,971,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Donald R. Knauss sold 6,846 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total value of $428,354.22. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $312,850. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,438 shares of company stock worth $14,077,678. Corporate insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC increased its holdings in Kellogg by 94.3% in the 2nd quarter. Lazard Asset Management LLC now owns 7,846,945 shares of the company’s stock valued at $545,047,000 after purchasing an additional 3,807,425 shares in the last quarter. CIBC World Markets Inc. grew its stake in shares of Kellogg by 29.1% during the second quarter. CIBC World Markets Inc. now owns 33,225 shares of the company’s stock valued at $2,308,000 after acquiring an additional 7,487 shares in the last quarter. Cim Investment Mangement Inc. acquired a new stake in shares of Kellogg during the second quarter valued at about $563,000. Pacer Advisors Inc. grew its stake in shares of Kellogg by 157.0% during the second quarter. Pacer Advisors Inc. now owns 13,675 shares of the company’s stock valued at $950,000 after acquiring an additional 8,353 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in shares of Kellogg during the second quarter valued at about $268,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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Kellogg (NYSE:K) traded up $1.42 on Friday, hitting $64.70. The company had a trading volume of 6,215,400 shares, compared to its average volume of 2,494,075. The firm has a market cap of $22,352.08, a PE ratio of 16.17, a P/E/G ratio of 2.61 and a beta of 0.49. The company has a current ratio of 0.68, a quick ratio of 0.43 and a debt-to-equity ratio of 3.71. Kellogg has a 1-year low of $58.76 and a 1-year high of $76.69.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, November 30th. Kellogg’s dividend payout ratio is presently 96.43%.

About Kellogg

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.

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Earnings History and Estimates for Kellogg (NYSE:K)

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