Kellogg (K) Issues Quarterly Earnings Results

Posted by Shane Hupp on Feb 9th, 2019 // No Comments

Kellogg (NYSE:K) posted its quarterly earnings results on Thursday. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03, Bloomberg Earnings reports. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. Kellogg had a return on equity of 47.10% and a net margin of 9.86%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. Kellogg updated its FY 2019 guidance to $4.03-4.11 EPS.

NYSE K opened at $55.36 on Friday. The stock has a market capitalization of $19.38 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. Kellogg has a twelve month low of $54.82 and a twelve month high of $74.98. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 2.60.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $58.36, for a total value of $5,836,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven A. Cahillane purchased 17,825 shares of Kellogg stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average cost of $61.63 per share, with a total value of $1,098,554.75. The disclosure for this purchase can be found here. Insiders sold a total of 580,000 shares of company stock valued at $34,626,200 in the last ninety days. 1.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acima Private Wealth LLC acquired a new position in shares of Kellogg during the fourth quarter valued at approximately $25,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Kellogg by 5,672.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,568,573 shares of the company’s stock valued at $28,000 after acquiring an additional 1,541,399 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new stake in shares of Kellogg in the fourth quarter valued at approximately $50,000. Highwater Wealth Management LLC purchased a new stake in shares of Kellogg in the fourth quarter valued at approximately $70,000. Finally, Cavalier Investments LLC purchased a new stake in shares of Kellogg in the fourth quarter valued at approximately $84,000. 86.55% of the stock is owned by institutional investors.

Several analysts have weighed in on the company. TheStreet downgraded Kellogg from a “b-” rating to a “c” rating in a research note on Thursday. Credit Suisse Group reiterated a “neutral” rating on shares of Kellogg in a research note on Friday. BMO Capital Markets dropped their price target on Kellogg to $62.00 and set a “market perform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on Kellogg to $56.00 and set a “neutral” rating for the company in a report on Friday. Finally, Deutsche Bank set a $60.00 price objective on Kellogg and gave the company a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $65.98.

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

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Earnings History for Kellogg (NYSE:K)

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