Kellogg (NYSE:K) Issues FY 2022 Earnings Guidance

Kellogg (NYSE:K – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $4.08-$4.12 for the period, compared to the consensus EPS estimate of $4.06. The company issued revenue guidance of -.

A number of research analysts have commented on the company. BMO Capital Markets lowered Kellogg from an outperform rating to a market perform rating and decreased their price objective for the company from $75.00 to $70.00 in a research report on Monday, January 31st. Morgan Stanley decreased their price objective on Kellogg from $67.00 to $65.00 and set an equal weight rating on the stock in a research report on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft lowered Kellogg from a buy rating to a hold rating and decreased their price objective for the company from $74.00 to $73.00 in a research report on Monday, April 25th. Piper Sandler lowered Kellogg from a neutral rating to an underweight rating and decreased their price objective for the company from $66.00 to $62.00 in a research report on Tuesday, May 3rd. Finally, Citigroup raised their price target on Kellogg from $74.00 to $83.00 in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kellogg presently has an average rating of Hold and an average price target of $68.91.

Kellogg stock traded up $2.20 during mid-day trading on Monday, hitting $74.93. 183,642 shares of the company’s stock were exchanged, compared to its average volume of 2,529,284. The firm has a market capitalization of $25.49 billion, a P/E ratio of 16.18, a PEG ratio of 4.76 and a beta of 0.48. Kellogg has a fifty-two week low of $59.54 and a fifty-two week high of $73.30. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.39. The company’s 50 day simple moving average is $65.36 and its 200-day simple moving average is $64.40.

Kellogg (NYSE:K – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.93 by $0.17. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.59 billion. Kellogg had a return on equity of 34.82% and a net margin of 10.81%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 EPS. Research analysts expect that Kellogg will post 4.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, May 31st. Kellogg’s payout ratio is presently 51.67%.

In other Kellogg news, CFO Amit Banati sold 11,054 shares of Kellogg stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $66.53, for a total value of $735,422.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 146,153 shares of Kellogg stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $61.02, for a total value of $8,918,256.06. The disclosure for this sale can be found here. Insiders have sold a total of 768,789 shares of company stock worth $49,981,102 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in K. Heritage Wealth Advisors acquired a new stake in shares of Kellogg in the fourth quarter valued at about $26,000. MML Investors Services LLC increased its position in shares of Kellogg by 5.2% in the fourth quarter. MML Investors Services LLC now owns 19,516 shares of the company’s stock valued at $1,257,000 after acquiring an additional 970 shares during the last quarter. Marshall Wace LLP increased its position in shares of Kellogg by 81.1% in the fourth quarter. Marshall Wace LLP now owns 43,052 shares of the company’s stock valued at $2,773,000 after acquiring an additional 19,279 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Kellogg in the fourth quarter valued at about $1,273,000. Finally, Sei Investments Co. increased its position in shares of Kellogg by 39.3% in the fourth quarter. Sei Investments Co. now owns 168,050 shares of the company’s stock valued at $10,832,000 after acquiring an additional 47,410 shares during the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Kellogg Company Profile (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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