Analysts forecast that Kellogg (NYSE:K) will announce earnings of $1.07 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Kellogg’s earnings, with the lowest EPS estimate coming in at $1.03 and the highest estimate coming in at $1.13. Kellogg reported earnings per share of $1.06 during the same quarter last year, which would suggest a positive year over year growth rate of 0.9%. The business is scheduled to report its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Kellogg will report full year earnings of $4.45 per share for the current fiscal year, with EPS estimates ranging from $4.35 to $4.51. For the next fiscal year, analysts forecast that the business will post earnings of $4.74 per share, with EPS estimates ranging from $4.64 to $4.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Kellogg.
Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.10 billion. Kellogg had a net margin of 9.82% and a return on equity of 70.35%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS.
In related news, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $65.14, for a total transaction of $5,120,394.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Calton & Associates Inc. acquired a new position in Kellogg during the 4th quarter valued at about $112,000. Resources Investment Advisors Inc. lifted its position in Kellogg by 65.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,859 shares of the company’s stock valued at $127,000 after purchasing an additional 737 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Kellogg during the 4th quarter valued at about $128,000. CLS Investments LLC acquired a new position in Kellogg during the 3rd quarter valued at about $124,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Kellogg during the 4th quarter valued at about $163,000. Institutional investors own 92.77% of the company’s stock.
Shares of Kellogg (NYSE:K) opened at $68.26 on Friday. The stock has a market cap of $23,580.00, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 2.14 and a beta of 0.47. The company has a quick ratio of 0.41, a current ratio of 0.68 and a debt-to-equity ratio of 3.52. Kellogg has a fifty-two week low of $58.76 and a fifty-two week high of $75.31.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Monday, March 5th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, March 2nd. This represents a $2.16 annualized dividend and a yield of 3.16%. Kellogg’s dividend payout ratio (DPR) is 59.34%.
Kellogg declared that its Board of Directors has initiated a stock buyback program on Friday, December 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
Kellogg Company Profile
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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