Brokerages Anticipate Kellogg (NYSE:K) to Post $0.86 Earnings Per Share

Equities research analysts expect Kellogg (NYSE:K) to post $0.86 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Kellogg’s earnings, with estimates ranging from $0.82 to $0.90. Kellogg reported earnings per share of $0.91 in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.5%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, February 6th.

On average, analysts expect that Kellogg will report full year earnings of $3.89 per share for the current year, with EPS estimates ranging from $3.86 to $3.93. For the next financial year, analysts anticipate that the company will post earnings of $4.03 per share, with EPS estimates ranging from $3.96 to $4.14. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Kellogg.

Kellogg (NYSE:K) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.12. Kellogg had a net margin of 5.35% and a return on equity of 42.47%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year.

A number of analysts have recently issued reports on K shares. Buckingham Research raised their price objective on Kellogg from $71.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group started coverage on Kellogg in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $74.00 price objective for the company. Royal Bank of Canada started coverage on Kellogg in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $65.00 price objective for the company. Bank of America raised Kellogg from a “neutral” rating to a “buy” rating and raised their price objective for the company from $53.00 to $75.00 in a research report on Friday, December 20th. Finally, Deutsche Bank started coverage on Kellogg in a research report on Wednesday, December 11th. They issued a “buy” rating and a $74.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Kellogg presently has an average rating of “Hold” and an average price target of $68.12.

In related news, Vice Chairman Gary H. Pilnick sold 20,655 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $63.73, for a total value of $1,316,343.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Fernanda Mejia sold 2,136 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $63.70, for a total value of $136,063.20. Following the completion of the sale, the senior vice president now directly owns 25,721 shares in the company, valued at $1,638,427.70. The disclosure for this sale can be found here. Insiders have sold 625,291 shares of company stock worth $41,963,106 in the last 90 days. Company insiders own 0.09% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Moors & Cabot Inc. raised its holdings in Kellogg by 3.2% in the 3rd quarter. Moors & Cabot Inc. now owns 6,501 shares of the company’s stock worth $418,000 after acquiring an additional 200 shares during the last quarter. Financial Architects Inc grew its position in Kellogg by 40.0% in the 3rd quarter. Financial Architects Inc now owns 700 shares of the company’s stock worth $45,000 after purchasing an additional 200 shares during the period. Capital Investment Advisory Services LLC grew its position in Kellogg by 16.6% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,418 shares of the company’s stock worth $91,000 after purchasing an additional 202 shares during the period. Coastal Investment Advisors Inc. grew its position in Kellogg by 46.4% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 824 shares of the company’s stock worth $53,000 after purchasing an additional 261 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Kellogg by 8.2% in the 4th quarter. Jones Financial Companies Lllp now owns 3,449 shares of the company’s stock worth $238,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 86.89% of the company’s stock.

Shares of Kellogg stock traded down $0.31 during trading hours on Friday, hitting $69.03. The company’s stock had a trading volume of 15,320 shares, compared to its average volume of 1,416,275. Kellogg has a 12 month low of $51.34 and a 12 month high of $71.05. The stock has a 50 day moving average of $68.47 and a 200 day moving average of $63.80. The company has a market capitalization of $23.65 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.80 and a quick ratio of 0.52.

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. Snacks, U.S. Morning Foods, U.S. Specialty Channels, North America Other, Europe, Latin America, and Asia Pacific segments. Its principal products include crackers, cookies, crisps and other savory snacks, toaster pastries, cereal bars, granola bars and bites, fruit-flavored snacks, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

See Also: Google Finance Portfolio

Get a free copy of the Zacks research report on Kellogg (K)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kellogg (NYSE:K)

Receive News & Ratings for Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.