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.
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.
WARNING: “$0.96 Earnings Per Share Expected for Kellogg Company (K) This Quarter” was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://www.themarketsdaily.com/2017/11/14/0-96-earnings-per-share-expected-for-kellogg-company-k-this-quarter.html.
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%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kellogg Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg Company and related companies with MarketBeat.com's FREE daily email newsletter.