Zacks: Brokerages Anticipate Kellogg (NYSE:K) to Post $1.03 EPS

Equities research analysts predict that Kellogg (NYSE:K) will report earnings of $1.03 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Kellogg’s earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.98. Kellogg reported earnings of $1.24 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 16.9%. The business is expected to announce its next earnings results on Thursday, July 29th.

According to Zacks, analysts expect that Kellogg will report full-year earnings of $4.09 per share for the current year, with EPS estimates ranging from $3.96 to $4.16. For the next financial year, analysts expect that the business will report earnings of $4.24 per share, with EPS estimates ranging from $3.96 to $4.42. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Kellogg.

Kellogg (NYSE:K) last announced its quarterly earnings results on Thursday, May 6th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.15. Kellogg had a net margin of 9.12% and a return on equity of 39.78%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the firm posted $0.99 EPS. Kellogg’s revenue for the quarter was up 5.0% compared to the same quarter last year.

Several research firms have weighed in on K. SVB Leerink restated a “buy” rating on shares of Kellogg in a report on Thursday, May 13th. Morgan Stanley raised their target price on shares of Kellogg from $60.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, May 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kellogg from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, April 28th. BMO Capital Markets lifted their price objective on shares of Kellogg from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, May 7th. Finally, Zacks Investment Research upgraded shares of Kellogg from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research report on Monday, May 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $67.92.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the company’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $63.22, for a total value of $5,268,312.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher M. Hood sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $67.15, for a total transaction of $201,450.00. Following the completion of the transaction, the senior vice president now directly owns 31,729 shares in the company, valued at approximately $2,130,602.35. The disclosure for this sale can be found here. Insiders have sold a total of 419,668 shares of company stock valued at $27,129,035 over the last three months. 1.20% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC bought a new stake in shares of Kellogg during the fourth quarter valued at approximately $29,000. PGGM Investments bought a new position in shares of Kellogg during the 4th quarter worth $4,954,000. Creative Planning grew its position in shares of Kellogg by 3.8% during the 4th quarter. Creative Planning now owns 25,139 shares of the company’s stock worth $1,564,000 after buying an additional 926 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its stake in shares of Kellogg by 11.2% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 270,130 shares of the company’s stock valued at $16,810,000 after buying an additional 27,188 shares during the period. Finally, Cardinal Capital Management raised its holdings in shares of Kellogg by 2.0% in the fourth quarter. Cardinal Capital Management now owns 83,114 shares of the company’s stock valued at $5,172,000 after acquiring an additional 1,606 shares in the last quarter. Institutional investors and hedge funds own 86.28% of the company’s stock.

Shares of K stock traded up $0.50 during trading hours on Thursday, hitting $65.30. The stock had a trading volume of 1,624,395 shares, compared to its average volume of 3,164,715. The company has a quick ratio of 0.43, a current ratio of 0.68 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $22.23 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 3.61 and a beta of 0.65. Kellogg has a one year low of $56.61 and a one year high of $72.88. The business has a 50-day simple moving average of $64.78.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.55%. This is an increase from Kellogg’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, May 28th. Kellogg’s dividend payout ratio is presently 58.15%.

About Kellogg

Kellogg Company, together with its subsidiaries, manufactures and markets ready-to-eat cereal and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars and bites, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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Earnings History and Estimates for Kellogg (NYSE:K)

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