Kellogg to Post Q2 2020 Earnings of $0.92 Per Share, Seaport Global Securities Forecasts (NYSE:K)

Kellogg (NYSE:K) – Equities researchers at Seaport Global Securities issued their Q2 2020 earnings per share (EPS) estimates for shares of Kellogg in a research note issued to investors on Tuesday, July 28th. Seaport Global Securities analyst E. Larson anticipates that the company will earn $0.92 per share for the quarter. Seaport Global Securities currently has a “Buy” rating and a $76.00 target price on the stock. Seaport Global Securities also issued estimates for Kellogg’s Q3 2020 earnings at $0.94 EPS, Q4 2020 earnings at $0.95 EPS, FY2020 earnings at $3.80 EPS, Q1 2021 earnings at $0.98 EPS, Q2 2021 earnings at $0.96 EPS, Q3 2021 earnings at $1.02 EPS, Q4 2021 earnings at $0.99 EPS and FY2021 earnings at $3.94 EPS.

Kellogg (NYSE:K) last posted its earnings results on Thursday, July 30th. The company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.30. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.31 billion. Kellogg had a return on equity of 43.36% and a net margin of 8.09%. Kellogg’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share.

K has been the topic of several other reports. JPMorgan Chase & Co. increased their target price on Kellogg from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Royal Bank of Canada reiterated a “hold” rating and set a $69.00 target price on shares of Kellogg in a research report on Tuesday, July 28th. Jefferies Financial Group reiterated a “hold” rating and set a $71.00 target price on shares of Kellogg in a research report on Monday, May 4th. Zacks Investment Research upgraded Kellogg from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday. Finally, Credit Suisse Group raised their price objective on Kellogg from $76.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $70.24.

K opened at $68.99 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 2.19. The firm has a market cap of $23.64 billion, a P/E ratio of 21.76, a PEG ratio of 4.65 and a beta of 0.57. Kellogg has a 52 week low of $52.66 and a 52 week high of $72.88. The business’s fifty day simple moving average is $66.92 and its 200 day simple moving average is $65.16.

Large investors have recently made changes to their positions in the business. RMR Wealth Builders acquired a new position in shares of Kellogg during the 4th quarter worth about $31,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Kellogg during the 1st quarter worth about $29,000. Citizens Financial Group Inc RI lifted its position in shares of Kellogg by 229.4% during the 1st quarter. Citizens Financial Group Inc RI now owns 639 shares of the company’s stock worth $38,000 after purchasing an additional 445 shares during the last quarter. Ellevest Inc. lifted its position in shares of Kellogg by 63.3% during the 1st quarter. Ellevest Inc. now owns 733 shares of the company’s stock worth $44,000 after purchasing an additional 284 shares during the last quarter. Finally, Capital Square LLC acquired a new position in shares of Kellogg during the 1st quarter worth about $46,000. 84.43% of the stock is owned by institutional investors.

In other Kellogg news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $66.52, for a total value of $6,652,000.00. Insiders sold 400,000 shares of company stock worth $26,766,000 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.57 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.28 dividend on an annualized basis and a yield of 3.30%. Kellogg’s dividend payout ratio (DPR) is currently 57.87%.

About Kellogg

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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