Kellogg (NYSE:K) – Stock analysts at Piper Jaffray Companies decreased their Q2 2018 earnings per share (EPS) estimates for shares of Kellogg in a note issued to investors on Monday, June 18th. Piper Jaffray Companies analyst M. Lavery now forecasts that the company will earn $1.04 per share for the quarter, down from their previous forecast of $1.06. Piper Jaffray Companies currently has a “Overweight” rating and a $80.00 target price on the stock. Piper Jaffray Companies also issued estimates for Kellogg’s Q3 2018 earnings at $1.13 EPS, Q4 2018 earnings at $1.01 EPS, FY2018 earnings at $4.41 EPS, Q1 2019 earnings at $1.20 EPS, Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $1.26 EPS, Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $4.71 EPS.
Kellogg (NYSE:K) last posted its earnings results on Thursday, May 3rd. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.11. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.30 billion. Kellogg had a net margin of 11.10% and a return on equity of 67.81%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share.
Kellogg opened at $66.69 on Wednesday, according to Marketbeat Ratings. The stock has a market capitalization of $22.98 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.74 and a quick ratio of 0.47. Kellogg has a twelve month low of $56.40 and a twelve month high of $71.65.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were given a dividend of $0.54 per share. The ex-dividend date was Thursday, May 31st. This represents a $2.16 annualized dividend and a yield of 3.24%. Kellogg’s payout ratio is presently 53.47%.
In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 200,000 shares of Kellogg stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $63.57, for a total transaction of $12,714,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 175,000 shares of Kellogg stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $61.37, for a total transaction of $10,739,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 626,992 shares of company stock valued at $39,993,290. 1.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in K. NuWave Investment Management LLC bought a new stake in shares of Kellogg in the 1st quarter worth approximately $139,000. QCI Asset Management Inc. NY lifted its holdings in shares of Kellogg by 985.2% in the 1st quarter. QCI Asset Management Inc. NY now owns 2,203 shares of the company’s stock worth $143,000 after acquiring an additional 2,000 shares during the last quarter. M Holdings Securities Inc. bought a new stake in shares of Kellogg in the 4th quarter worth approximately $2,516,000. Citizens Financial Group Inc RI lifted its holdings in shares of Kellogg by 31.7% in the 4th quarter. Citizens Financial Group Inc RI now owns 3,147 shares of the company’s stock worth $214,000 after acquiring an additional 757 shares during the last quarter. Finally, Huber Financial Advisors LLC bought a new stake in shares of Kellogg in the 1st quarter worth approximately $205,000. Institutional investors and hedge funds own 88.81% of the company’s stock.
Kellogg Company Profile
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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