FY2022 EPS Estimates for Kellogg Lifted by Analyst (NYSE:K)

Kellogg (NYSE:KGet Rating) – Equities research analysts at Jefferies Financial Group increased their FY2022 earnings estimates for Kellogg in a note issued to investors on Tuesday, June 7th. Jefferies Financial Group analyst R. Dickerson now anticipates that the company will post earnings per share of $4.11 for the year, up from their previous forecast of $4.10. Jefferies Financial Group also issued estimates for Kellogg’s Q4 2022 earnings at $0.95 EPS, Q1 2023 earnings at $1.15 EPS and Q4 2023 earnings at $1.03 EPS.

Kellogg (NYSE:KGet Rating) last released its earnings results on Thursday, May 5th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. Kellogg had a net margin of 10.81% and a return on equity of 34.82%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the company earned $1.11 EPS. Kellogg’s quarterly revenue was up 2.5% on a year-over-year basis.

Several other research analysts have also recently commented on K. JPMorgan Chase & Co. cut shares of Kellogg from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $64.00 to $57.00 in a report on Friday, February 11th. StockNews.com upgraded shares of Kellogg from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Credit Suisse Group raised their target price on shares of Kellogg from $62.00 to $69.00 in a report on Monday, May 9th. Deutsche Bank Aktiengesellschaft cut shares of Kellogg from a “buy” rating to a “hold” rating and decreased their target price for the stock from $74.00 to $73.00 in a report on Monday, April 25th. Finally, UBS Group initiated coverage on shares of Kellogg in a report on Wednesday, March 30th. They issued a “buy” rating and a $73.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.80.

NYSE:K opened at $68.96 on Thursday. Kellogg has a twelve month low of $59.54 and a twelve month high of $75.56. The company has a current ratio of 0.65, a quick ratio of 0.39 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average of $69.05 and a 200-day moving average of $65.62. The firm has a market cap of $23.30 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 4.45 and a beta of 0.48.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its stake in Kellogg by 6.4% during the first quarter. Hexagon Capital Partners LLC now owns 2,490 shares of the company’s stock worth $161,000 after buying an additional 149 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in Kellogg by 11.2% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,543 shares of the company’s stock worth $100,000 after buying an additional 156 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Kellogg by 0.3% in the 1st quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock valued at $170,000 after purchasing an additional 159 shares in the last quarter. Kempen Capital Management N.V. boosted its stake in shares of Kellogg by 25.3% in the 1st quarter. Kempen Capital Management N.V. now owns 818 shares of the company’s stock valued at $53,000 after purchasing an additional 165 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Kellogg by 1.9% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,207 shares of the company’s stock valued at $594,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

In other news, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $66.92, for a total value of $9,780,558.76. Following the transaction, the insider now owns 57,608,756 shares of the company’s stock, valued at $3,855,177,951.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 730,765 shares of company stock worth $49,445,021. Insiders own 1.40% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, May 31st. Kellogg’s dividend payout ratio is 51.67%.

About Kellogg (Get Rating)

Kellogg Company, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, and Asia Middle East Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.

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