Kellogg (K) Expected to Announce Earnings of $0.96 Per Share

Brokerages predict that Kellogg (NYSE:K) will post earnings of $0.96 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Kellogg’s earnings. The highest EPS estimate is $0.98 and the lowest is $0.94. Kellogg posted earnings of $0.92 per share in the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 8th.

On average, analysts expect that Kellogg will report full year earnings of $4.03 per share for the current fiscal year, with EPS estimates ranging from $3.97 to $4.05. For the next financial year, analysts expect that the firm will post earnings of $4.31 per share, with EPS estimates ranging from $4.14 to $4.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Kellogg.

Kellogg (NYSE:K) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. Kellogg had a return on equity of 73.92% and a net margin of 6.15%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year.

K has been the topic of several research analyst reports. Bank of America restated an “underperform” rating and issued a $66.00 price objective (down from $72.00) on shares of Kellogg in a report on Monday, October 9th. Morgan Stanley reduced their price objective on shares of Kellogg from $70.00 to $66.00 and set an “equal weight” rating on the stock in a report on Friday, October 13th. Royal Bank of Canada set a $81.00 price objective on shares of Kellogg and gave the company a “hold” rating in a report on Wednesday, October 18th. Credit Suisse Group reduced their price objective on shares of Kellogg from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Finally, Susquehanna Bancshares set a $71.00 price objective on shares of Kellogg and gave the company a “hold” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Kellogg presently has an average rating of “Hold” and a consensus price target of $72.57.

In other news, Director Donald R. Knauss sold 6,846 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.57, for a total transaction of $428,354.22. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $312,850. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 78,606 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $65.14, for a total value of $5,120,394.84. The disclosure for this sale can be found here. Insiders have sold 349,754 shares of company stock worth $22,304,119 over the last quarter. Insiders own 1.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in K. Capital Research Global Investors grew its position in shares of Kellogg by 54.7% during the second quarter. Capital Research Global Investors now owns 24,031,728 shares of the company’s stock worth $1,669,244,000 after buying an additional 8,495,714 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Kellogg by 15,410.4% during the third quarter. Nordea Investment Management AB now owns 2,270,254 shares of the company’s stock worth $141,596,000 after buying an additional 2,255,617 shares in the last quarter. HS Management Partners LLC acquired a new position in shares of Kellogg during the third quarter worth about $122,431,000. Ameriprise Financial Inc. grew its position in shares of Kellogg by 34.2% during the third quarter. Ameriprise Financial Inc. now owns 4,038,523 shares of the company’s stock worth $251,883,000 after buying an additional 1,030,264 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Kellogg by 2,619.1% during the second quarter. Janus Henderson Group PLC now owns 870,911 shares of the company’s stock worth $60,493,000 after buying an additional 838,882 shares in the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

Shares of Kellogg (NYSE K) traded down $0.24 on Friday, reaching $66.93. 1,788,498 shares of the company traded hands, compared to its average volume of 3,080,000. The stock has a market cap of $23,100.00, a price-to-earnings ratio of 29.88, a P/E/G ratio of 2.52 and a beta of 0.52. Kellogg has a 12-month low of $58.76 and a 12-month high of $76.69. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.43 and a current ratio of 0.68.

Kellogg announced that its Board of Directors has initiated a share buyback program on Friday, December 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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About Kellogg

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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