Analysts expect that Kellogg Company (NYSE:K) will post $3.15 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Kellogg Company’s earnings. The lowest sales estimate is $3.14 billion and the highest is $3.16 billion. Kellogg Company reported sales of $3.27 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The business is expected to announce its next earnings report before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that Kellogg Company will report full-year sales of $3.15 billion for the current financial year, with estimates ranging from $12.57 billion to $12.72 billion. For the next financial year, analysts expect that the company will post sales of $12.62 billion per share, with estimates ranging from $12.40 billion to $12.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Kellogg Company.
Kellogg Company (NYSE:K) last issued its earnings results on Thursday, May 4th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.01 by $0.05. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. Kellogg Company had a net margin of 6.07% and a return on equity of 67.99%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS.
A number of research analysts have recently commented on K shares. Sanford C. Bernstein lowered Kellogg Company from a “market perform” rating to an “underperform” rating in a report on Tuesday, March 21st. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $80.00 price target (down from $82.00) on shares of Kellogg Company in a report on Tuesday, April 25th. Credit Suisse Group lowered their price target on Kellogg Company from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Zacks Investment Research lowered Kellogg Company from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Finally, Piper Jaffray Companies started coverage on Kellogg Company in a report on Wednesday, May 24th. They set an “overweight” rating and a $78.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $79.40.
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In other Kellogg Company news, Director James M. Jenness sold 70,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.06, for a total transaction of $4,974,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $74.08, for a total value of $1,852,000.00. The disclosure for this sale can be found here. Insiders sold a total of 99,900 shares of company stock valued at $7,178,363 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Altfest L J & Co. Inc. raised its stake in shares of Kellogg Company by 0.5% in the first quarter. Altfest L J & Co. Inc. now owns 2,891 shares of the company’s stock worth $210,000 after buying an additional 14 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Kellogg Company by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,813 shares of the company’s stock valued at $495,000 after buying an additional 21 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Kellogg Company by 1.0% in the first quarter. Whittier Trust Co. now owns 3,085 shares of the company’s stock valued at $224,000 after buying an additional 31 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Kellogg Company by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,218 shares of the company’s stock valued at $161,000 after buying an additional 31 shares in the last quarter. Finally, Alpha Windward LLC raised its stake in shares of Kellogg Company by 1.5% in the first quarter. Alpha Windward LLC now owns 2,564 shares of the company’s stock valued at $186,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.
Shares of Kellogg Company (NYSE:K) traded up 0.27% during midday trading on Friday, hitting $69.53. 2,100,840 shares of the company’s stock traded hands. The company has a 50 day moving average of $71.70 and a 200 day moving average of $72.80. Kellogg Company has a 52 week low of $68.67 and a 52 week high of $87.16. The stock has a market cap of $24.35 billion, a P/E ratio of 31.46 and a beta of 0.49.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a $0.52 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.99%. Kellogg Company’s dividend payout ratio (DPR) is 94.55%.
About Kellogg Company
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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