$0.95 EPS Expected for Kellogg (NYSE:K) This Quarter


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Equities research analysts expect Kellogg (NYSE:K) to report earnings per share (EPS) of $0.95 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Kellogg’s earnings, with estimates ranging from $0.90 to $1.01. Kellogg reported earnings per share of $0.99 during the same quarter last year, which indicates a negative year over year growth rate of 4%. The company is expected to issue its next earnings report on Thursday, April 29th.

On average, analysts expect that Kellogg will report full year earnings of $4.01 per share for the current fiscal year, with EPS estimates ranging from $3.79 to $4.08. For the next financial year, analysts forecast that the firm will report earnings of $4.16 per share, with EPS estimates ranging from $3.82 to $4.30. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Kellogg.

Kellogg (NYSE:K) last announced its quarterly earnings results on Wednesday, February 10th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.03). Kellogg had a net margin of 8.80% and a return on equity of 41.23%.

Several equities analysts recently issued reports on the stock. Piper Sandler downgraded shares of Kellogg from an “overweight” rating to a “neutral” rating and cut their price target for the company from $76.00 to $66.00 in a report on Tuesday, January 5th. Jefferies Financial Group lowered their price objective on shares of Kellogg from $69.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, January 12th. JPMorgan Chase & Co. lowered their price objective on shares of Kellogg from $67.00 to $58.00 in a research report on Tuesday, January 19th. Morgan Stanley lowered their price objective on shares of Kellogg from $64.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, February 12th. Finally, Citigroup lowered their price target on shares of Kellogg from $75.00 to $72.00 in a research report on Tuesday, February 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Kellogg has a consensus rating of “Hold” and an average price target of $66.83.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 83,333 shares of the business’s stock in a transaction on Thursday, December 10th. The shares were sold at an average price of $61.98, for a total transaction of $5,164,979.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 83,334 shares of the business’s stock in a transaction on Monday, December 21st. The stock was sold at an average price of $60.94, for a total transaction of $5,078,373.96. In the last three months, insiders sold 500,001 shares of company stock worth $29,627,558. 1.10% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Kellogg by 4.2% in the third quarter. BlackRock Inc. now owns 23,257,472 shares of the company’s stock valued at $1,502,200,000 after purchasing an additional 931,569 shares during the last quarter. Beutel Goodman & Co Ltd. grew its stake in shares of Kellogg by 22.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,751,647 shares of the company’s stock valued at $233,464,000 after acquiring an additional 677,403 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Kellogg by 10.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,651,036 shares of the company’s stock valued at $227,204,000 after acquiring an additional 354,082 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Kellogg by 3.9% in the fourth quarter. Janus Henderson Group PLC now owns 3,330,475 shares of the company’s stock valued at $207,255,000 after acquiring an additional 126,360 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Kellogg by 17.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,751,494 shares of the company’s stock valued at $171,225,000 after acquiring an additional 413,570 shares in the last quarter. Hedge funds and other institutional investors own 86.08% of the company’s stock.

K stock traded up $0.33 during trading on Tuesday, hitting $59.59. 117,873 shares of the stock traded hands, compared to its average volume of 3,685,056. Kellogg has a one year low of $52.66 and a one year high of $72.88. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 3.71 and a beta of 0.60. The company has a 50 day simple moving average of $58.84 and a 200 day simple moving average of $63.58. The company has a current ratio of 0.79, a quick ratio of 0.58 and a debt-to-equity ratio of 1.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Stockholders of record on Tuesday, March 9th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, March 1st. Kellogg’s dividend payout ratio is presently 57.87%.

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, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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