Equities research analysts forecast that Kellogg (NYSE:K) will report $3.29 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Kellogg’s earnings, with the highest sales estimate coming in at $3.35 billion and the lowest estimate coming in at $3.25 billion. Kellogg reported sales of $3.52 billion during the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The firm is scheduled to announce its next earnings report on Thursday, May 7th.

According to Zacks, analysts expect that Kellogg will report full year sales of $13.45 billion for the current fiscal year, with estimates ranging from $13.19 billion to $13.57 billion. For the next financial year, analysts expect that the business will post sales of $13.60 billion, with estimates ranging from $13.43 billion to $13.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Kellogg.

Kellogg (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. Kellogg had a return on equity of 41.84% and a net margin of 7.07%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share.

Several equities analysts have recently weighed in on the company. Buckingham Research decreased their target price on Kellogg from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday. They noted that the move was a valuation call. Bank of America upgraded Kellogg from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $75.00 in a research report on Friday, December 20th. Edward Jones upgraded Kellogg from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group began coverage on Kellogg in a research report on Wednesday, January 22nd. They set a “hold” rating and a $74.00 price objective on the stock. Finally, Evercore ISI reiterated a “hold” rating and set a $65.00 price objective on shares of Kellogg in a research report on Sunday, February 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Kellogg presently has an average rating of “Hold” and a consensus target price of $68.80.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $66.71, for a total value of $6,671,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven A. Cahillane acquired 16,810 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $65.33 per share, with a total value of $1,098,197.30. Following the completion of the purchase, the chief executive officer now directly owns 50,565 shares of the company’s stock, valued at approximately $3,303,411.45. The disclosure for this purchase can be found here. In the last three months, insiders have sold 500,000 shares of company stock valued at $33,891,000. 0.09% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of K. Quest Capital Management Inc. ADV acquired a new stake in shares of Kellogg in the third quarter valued at $26,000. Orion Portfolio Solutions LLC acquired a new position in Kellogg during the 4th quarter worth $27,000. Busey Wealth Management acquired a new position in Kellogg during the 4th quarter worth $28,000. Duncker Streett & Co. Inc. acquired a new position in Kellogg during the 4th quarter worth $30,000. Finally, ERTS Wealth Advisors LLC acquired a new position in Kellogg during the 4th quarter worth $34,000. 81.09% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE K traded down $1.02 during midday trading on Monday, hitting $64.50. The stock had a trading volume of 2,539,590 shares, compared to its average volume of 2,071,641. The company has a market capitalization of $22.35 billion, a PE ratio of 23.04, a P/E/G ratio of 3.86 and a beta of 0.55. The stock has a 50 day simple moving average of $68.17 and a 200-day simple moving average of $65.21. Kellogg has a 1 year low of $51.34 and a 1 year high of $71.05. The company has a quick ratio of 0.46, a current ratio of 0.72 and a debt-to-equity ratio of 2.30.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.28 annualized dividend and a yield of 3.53%. Kellogg’s dividend payout ratio (DPR) is 57.87%.

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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