Kellogg (K) Plans $0.56 Quarterly Dividend

Kellogg (NYSE:K) declared a quarterly dividend on Friday, October 19th, RTT News reports. Shareholders of record on Monday, December 3rd will be paid a dividend of 0.56 per share on Monday, December 17th. This represents a $2.24 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, November 30th.

NYSE K opened at $71.17 on Friday. Kellogg has a 12 month low of $56.40 and a 12 month high of $74.98. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 2.05 and a beta of 0.49. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.50 and a current ratio of 0.82.

Kellogg (NYSE:K) last released its quarterly earnings results on Thursday, August 2nd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Kellogg had a return on equity of 59.68% and a net margin of 13.33%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that Kellogg will post 4.52 EPS for the current year.

A number of equities research analysts have commented on K shares. Buckingham Research upped their price target on Kellogg from $76.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Piper Jaffray Companies set a $79.00 price target on Kellogg and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley started coverage on Kellogg in a research report on Monday, September 17th. They issued an “equal weight” rating and a $75.00 price target on the stock. Credit Suisse Group upped their price target on Kellogg from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $67.00 price target (up previously from $62.00) on shares of Kellogg in a research report on Sunday, August 5th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $72.71.

In related news, Vice Chairman Gary H. Pilnick sold 66,655 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $72.25, for a total transaction of $4,815,823.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 150,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $71.20, for a total value of $10,680,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 636,655 shares of company stock worth $45,829,574. 1.40% of the stock is owned by corporate 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. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include cookies, crackers, savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, and veggie foods.

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Dividend History for Kellogg (NYSE:K)

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