Kellogg Company (NYSE:K) announced its earnings results on Tuesday. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11, Bloomberg Earnings reports. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.22 billion. Kellogg had a return on equity of 70.22% and a net margin of 6.12%. Kellogg’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. Kellogg updated its FY17 guidance to $4.03-4.09 EPS.
Shares of Kellogg (K) traded up 5.49% on Tuesday, reaching $62.10. The company’s stock had a trading volume of 5,601,543 shares. Kellogg has a 52-week low of $58.76 and a 52-week high of $78.37. The company has a 50 day moving average price of $63.20 and a 200 day moving average price of $68.04. The company has a market cap of $21.43 billion, a P/E ratio of 28.11 and a beta of 0.48.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.67%. Kellogg’s dividend payout ratio (DPR) is currently 97.74%.
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K has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price target on Kellogg from $85.00 to $78.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. Zacks Investment Research downgraded Kellogg from a “buy” rating to a “hold” rating in a report on Friday, August 4th. J P Morgan Chase & Co upgraded Kellogg from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $76.00 to $78.00 in a report on Friday, August 4th. Susquehanna Bancshares Inc reiterated a “hold” rating on shares of Kellogg in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $78.00 price target on Kellogg and gave the company a “buy” rating in a report on Monday, August 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.27.
Kellogg Company Profile
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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