Kellogg (NYSE:K) Releases FY 2020 After-Hours Earnings Guidance

Kellogg (NYSE:K) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.84-3.88 for the period, compared to the Thomson Reuters consensus estimate of $3.80.

NYSE K traded up $0.57 during midday trading on Friday, hitting $67.71. 1,567,360 shares of the company traded hands, compared to its average volume of 2,095,348. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.72 and a quick ratio of 0.46. The company has a market cap of $22.89 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 3.89 and a beta of 0.55. The company’s 50-day simple moving average is $68.58 and its 200-day simple moving average is $64.92. Kellogg has a 52 week low of $51.34 and a 52 week high of $71.05.

Kellogg (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.91 earnings per share (EPS) 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 analysts’ expectations of $3.18 billion. Kellogg had a return on equity of 41.84% and a net margin of 7.07%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. On average, research analysts predict that Kellogg will post 3.82 earnings per share for the current year.

A number of analysts have recently weighed in on K shares. Royal Bank of Canada reissued a hold rating and issued a $65.00 price objective on shares of Kellogg in a research report on Sunday, February 9th. Bank of America raised Kellogg from a neutral rating to a buy rating and raised their price objective for the stock from $53.00 to $75.00 in a research report on Friday, December 20th. Jefferies Financial Group assumed coverage on Kellogg in a research report on Wednesday, January 22nd. They issued a hold rating and a $74.00 price objective for the company. Deutsche Bank assumed coverage on Kellogg in a research report on Wednesday, December 11th. They set a buy rating and a $74.00 price target for the company. Finally, BMO Capital Markets raised Kellogg from a market perform rating to an outperform rating and lifted their price target for the stock from $70.00 to $79.00 in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $68.93.

In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellogg stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $65.19, for a total value of $6,519,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven A. Cahillane acquired 16,810 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $65.33 per share, for a total transaction of $1,098,197.30. Following the completion of the acquisition, the chief executive officer now owns 50,565 shares in the company, valued at approximately $3,303,411.45. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 600,000 shares of company stock valued at $40,410,000. 0.09% of the stock is owned by company insiders.

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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