Wall Street analysts expect that Kellogg (NYSE:K) will announce $3.36 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Kellogg’s earnings. The highest sales estimate is $3.41 billion and the lowest is $3.32 billion. Kellogg reported sales of $3.47 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3.2%. The business is expected to announce its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Kellogg will report full year sales of $13.54 billion for the current financial year, with estimates ranging from $13.46 billion to $13.63 billion. For the next financial year, analysts expect that the company will report sales of $13.31 billion, with estimates ranging from $13.12 billion to $13.56 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Kellogg.

Kellogg (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. Kellogg had a net margin of 6.28% and a return on equity of 41.91%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year.

A number of brokerages have recently issued reports on K. Zacks Investment Research lowered shares of Kellogg from a “hold” rating to a “sell” rating and set a $67.00 price target on the stock. in a research note on Friday, August 2nd. Barclays set a $62.00 target price on shares of Kellogg and gave the stock a “sell” rating in a research report on Friday, August 2nd. Consumer Edge lowered shares of Kellogg from an “equal weight” rating to an “underweight” rating and set a $49.00 target price on the stock. in a research report on Monday, June 24th. Canaccord Genuity restated an “average” rating on shares of Kellogg in a research report on Tuesday, June 25th. Finally, ValuEngine upgraded shares of Kellogg from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.47.

Shares of Kellogg stock traded down $0.09 on Monday, reaching $63.26. 53,322 shares of the stock were exchanged, compared to its average volume of 3,187,858. Kellogg has a 1-year low of $51.34 and a 1-year high of $74.98. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 2.67. The business has a fifty day moving average price of $59.16 and a two-hundred day moving average price of $57.08. The firm has a market capitalization of $21.94 billion, a PE ratio of 14.61, a PEG ratio of 3.69 and a beta of 0.61.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, August 30th. This is an increase from Kellogg’s previous quarterly dividend of $0.56. Kellogg’s dividend payout ratio is 51.73%.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $54.95, for a total value of $5,495,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 600,000 shares of company stock worth $34,578,000 in the last ninety days. Insiders own 0.09% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Coastal Investment Advisors Inc. raised its stake in Kellogg by 117.4% during the second quarter. Coastal Investment Advisors Inc. now owns 563 shares of the company’s stock worth $30,000 after purchasing an additional 304 shares during the period. Penserra Capital Management LLC purchased a new position in Kellogg during the first quarter worth approximately $40,000. AGF Investments LLC raised its stake in Kellogg by 39.4% during the second quarter. AGF Investments LLC now owns 828 shares of the company’s stock worth $44,000 after purchasing an additional 234 shares during the period. WealthStone Inc. purchased a new position in Kellogg during the second quarter worth approximately $48,000. Finally, Acima Private Wealth LLC raised its stake in Kellogg by 90.6% during the first quarter. Acima Private Wealth LLC now owns 852 shares of the company’s stock worth $49,000 after purchasing an additional 405 shares during the period. 87.51% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Kellogg (NYSE:K)

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