Kellogg (K) Declares $0.56 Quarterly Dividend
Kellogg (NYSE:K) announced a quarterly dividend on Friday, October 19th, RTT News reports. Investors of record on Monday, December 3rd will be given a dividend of 0.56 per share on Monday, December 17th. This represents a $2.24 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, November 30th.
NYSE:K traded up $1.48 on Friday, reaching $71.04. The company’s stock had a trading volume of 54,098 shares, compared to its average volume of 1,847,756. Kellogg has a 1-year low of $56.40 and a 1-year high of $74.98. The company has a current ratio of 0.82, a quick ratio of 0.50 and a debt-to-equity ratio of 2.57. The stock has a market cap of $24.15 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.05 and a beta of 0.49.
Kellogg (NYSE:K) last posted its earnings results on Thursday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Kellogg had a return on equity of 59.68% and a net margin of 13.33%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Kellogg will post 4.52 earnings per share for the current year.
Several research firms have recently weighed in on K. Zacks Investment Research cut Kellogg from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies set a $79.00 price objective on Kellogg and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley began coverage on Kellogg in a research report on Monday, September 17th. They set an “equal weight” rating and a $75.00 price objective for the company. Credit Suisse Group upped their price objective on Kellogg from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $67.00 price objective (up from $62.00) on shares of Kellogg in a research report on Sunday, August 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $72.71.
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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