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Benzinga
Kellanova Moves to Buy: Rationale Behind the Upgrade
Kellanova (NYSE: K) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
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Historical Prices for Kellogg
Date | Open | Close | Daily High | Daily Low |
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Price change over selected period:0%0
Kellogg Analyst Data
Total Analysts: 37
Buy Ratings: 7 Neutral Ratings: 26 Sell Ratings: 4
Analyst: {{ANALYST_DATA}}
Price-Target: {{PRICE_DATA}}
Rating: {{RATING_DATA}}
Price *Price Target
Lowest: 54.00 Median: 65.57 Highest: 83.00
*The average price target includes all analyst analysis, not just the most recent analysis presented in the chart.
Kellogg Analyst Opinions
- All
- Buy
- Hold
- Sell
Date | Analyst | Rating | Price | |||
---|---|---|---|---|---|---|
05/09/24 | D.A. Davidson & Co. | Maintained Buy | $72 | gut | ||
05/06/24 | Barclays Capital | Maintained Hold | $64 | neutral | ||
05/03/24 | J.P. Morgan | Maintained Hold | $66 | neutral | ||
03/11/24 | Jefferies & Company Inc. | Maintained Hold | $54 | neutral | ||
03/01/24 | D.A. Davidson & Co. | Maintained Buy | $67 | gut | ||
02/12/24 | Barclays Capital | Maintained Hold | $60 | neutral | ||
02/12/24 | Piper Sandler | Maintained Hold | $60 | neutral | ||
02/09/24 | J.P. Morgan | Maintained Hold | $59 | neutral | ||
02/09/24 | Wells Fargo & Co | Maintained Hold | $58 | neutral | ||
02/01/24 | Citigroup Corp. | Maintained Hold | $57 | neutral | ||
01/25/24 | Stifel, Nicolaus & Co., Inc. | Maintained Buy | $58 | gut | ||
11/09/23 | Morgan Stanley | Maintained Hold | $57 | neutral | ||
11/09/23 | Barclays Capital | Upgraded to Hold | $55 | neutral | ||
10/12/23 | Barclays Capital | Maintained Sell | $57 | schlecht | ||
10/06/23 | Stifel, Nicolaus & Co., Inc. | Maintained Buy | $56 | gut | ||
10/05/23 | RBC Capital Markets | Maintained Hold | $60 | neutral | ||
10/03/23 | Exane BNP Paribas | Upgraded to Hold | $55 | neutral | ||
10/03/23 | Goldman Sachs | Maintained Buy | $73 | gut | ||
10/02/23 | Piper Sandler | Maintained Hold | $57 | neutral | ||
09/13/23 | RBC Capital Markets | Maintained Hold | $70 | neutral | ||
08/11/23 | Barclays Capital | Maintained Sell | $69 | schlecht | ||
08/10/23 | J.P. Morgan | Maintained Hold | $72 | neutral | ||
08/04/23 | Morgan Stanley | Maintained Hold | $68 | neutral | ||
06/27/23 | Goldman Sachs | Upgraded to Buy | $83 | gut | ||
06/22/23 | Bernstein | Upgraded to Hold | $62 | neutral | ||
05/08/23 | Barclays Capital | Maintained Sell | $74 | schlecht | ||
05/05/23 | Morgan Stanley | Maintained Hold | $73 | neutral | ||
05/05/23 | J.P. Morgan | Upgraded to Hold | $72 | neutral | ||
04/14/23 | Stifel, Nicolaus & Co., Inc. | Maintained Buy | $71 | gut | ||
04/11/23 | Morgan Stanley | Maintained Hold | $71 | neutral | ||
03/20/23 | Deutsche Bank | Maintained Hold | $69 | neutral | ||
02/10/23 | Credit Suisse | Maintained Hold | $71 | neutral | ||
12/20/22 | Morgan Stanley | Maintained Hold | $74 | neutral | ||
11/15/22 | Exane BNP Paribas | Maintained Sell | $66 | schlecht | ||
08/08/22 | RBC Capital Markets | Maintained Hold | $70 | neutral | ||
08/05/22 | Piper Sandler | Upgraded to Hold | $74 | neutral | ||
07/14/22 | Morgan Stanley | Maintained Hold | $72 | neutral |
Kellogg Estimates* in USD
2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|
Revenue | 12,686 | 13,048 | 13,469 | 13,383 | 13,656 |
Dividend | 2.27 | 2.32 | 2.34 | 2.34 | 2.36 |
Dividend Yield (in %) | 4.04 % | 4.13 % | 4.17 % | 4.16 % | 4.20 % |
EPS | 3.62 | 3.84 | 4.09 | 4.31 | 4.49 |
P/E Ratio | 15.51 | 14.62 | 13.75 | 13.04 | 12.51 |
EBIT | 1,863 | 1,953 | 2,055 | 2,084 | 2,146 |
EBITDA | 2,232 | 2,345 | 2,454 | 2,459 | 2,529 |
Net Profit | 1,237 | 1,313 | 1,398 | 1,444 | 1,492 |
Net Profit Adjusted | 1,242 | 1,315 | 1,402 | 1,444 | 1,492 |
Pre-Tax Profit | 1,612 | 1,710 | 1,820 | 1,881 | 1,942 |
Net Profit (Adjusted) | 1,613 | 1,712 | 1,808 | 1,881 | 1,942 |
EPS (Non-GAAP) ex. SOE | 3.62 | 3.84 | 4.09 | 4.31 | 4.49 |
EPS (GAAP) | 3.42 | 3.81 | 4.11 | 4.31 | 4.49 |
Gross Income | 4,513 | 4,650 | 4,820 | - | - |
Cash Flow from Investing | -657 | -807 | -805 | - | - |
Cash Flow from Operations | 1,838 | 1,825 | 1,972 | - | - |
Cash Flow from Financing | -657 | -807 | -805 | - | - |
Cash Flow per Share | 4.98 | 5.04 | 5.07 | 5.11 | 5.31 |
Free Cash Flow | 1,089 | 1,151 | 1,237 | - | - |
Free Cash Flow per Share | 2.91 | 3.31 | 3.74 | - | - |
Book Value per Share | 11.38 | 13.09 | 15.19 | 15.04 | 17.08 |
Net Debt | 5,745 | 5,457 | 5,192 | 4,764 | 4,431 |
Research & Development Exp. | 134 | 139 | - | - | - |
Capital Expenditure | 658 | 585 | 556 | 549 | 560 |
Selling, General & Admin. Exp. | 2,660 | 2,704 | 2,765 | - | - |
Shareholder’s Equity | 3,825 | 4,392 | 5,034 | 5,040 | 5,668 |
Total Assets | 15,623 | 16,144 | 16,601 | - | - |
Previous Quarter ending 06/30/24 | Current Quarter ending 09/30/24 | Next Quarter ending 12/31/24 | Current Year ending 12/31/24 | Next Year ending 12/31/25 | |
---|---|---|---|---|---|
Earnings Estimates | |||||
No. of Analysts | 16 | 16 | 16 | 17 | 17 |
Average Estimate | 0.902 USD | 0.860 USD | 0.845 USD | 3.623 USD | 3.845 USD |
Year Ago | 1.041 USD | 0.787 USD | 0.079 USD | 2.781 USD | - |
Publish Date | 8/1/2024 | 10/31/2024 | 2/6/2025 | - | - |
Revenue Estimates | |||||
No. of Analysts | 14 | 14 | 14 | 15 | 15 |
Average Estimate | 3,158 USD | 3,182 USD | 3,145 USD | 12,686 USD | 13,048 USD |
Year Ago | 4,041 USD | 3,939 USD | 3,174 USD | 13,122 USD | - |
Publish Date | 8/1/2024 | 10/31/2024 | 2/6/2025 | - | - |
* Average Estimates in Million (e.g. Revenue) or per share (e.g. Dividend). Source: FactSet
Income Statements in Mio. USD
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
---|---|---|---|---|---|---|---|
Sales | 13,122.00 | 15,315.00 | 14,181.00 | 13,770.00 | 13,578.00 | 13,547.00 | 12,929.00 |
Change of sales in % | -14.32 | 8.00 | 2.98 | 1.41 | 0.23 | 4.78 | -0.65 |
Gross profit on sales | 4,399.00 | 4,569.00 | 4,492.00 | 4,716.00 | 4,428.00 | 4,829.00 | 5,835.00 |
Gross profit on sales change in % | -3.72 | 1.71 | -4.75 | 6.50 | -8.30 | -17.24 | 18.65 |
Operating income | 1,633.00 | 1,638.00 | 1,680.00 | 1,782.00 | 1,533.00 | 1,884.00 | 3,627.00 |
Operating income change in % | -0.31 | -2.50 | -5.72 | 16.24 | -18.63 | -48.06 | 112.48 |
Income before tax | 1,040.00 | 1,197.00 | 1,966.00 | 1,601.00 | 1,305.00 | 1,329.00 | 1,674.00 |
Income before tax change in % | -13.12 | -39.11 | 22.80 | 22.68 | -1.81 | -20.61 | 80.58 |
Income after tax | 951.00 | 960.00 | 1,488.00 | 1,251.00 | 960.00 | 1,336.00 | 1,269.00 |
Income after tax change in % | -0.94 | -35.48 | 18.94 | 30.31 | -28.14 | 5.28 | 82.85 |
Balance Sheet in Mio. USD
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
---|---|---|---|---|---|---|---|
Total liabilities | 12,252.00 | 14,121.00 | 13,963.00 | 14,360.00 | 14,250.00 | 14,621.00 | 14,122.00 |
Long-term liabilities per share | 21.12 | 22.74 | 25.33 | 26.53 | 27.73 | 29.35 | 27.90 |
Equity | 3,369.00 | 4,375.00 | 4,215.00 | 3,636.00 | 3,314.00 | 3,159.00 | 2,228.00 |
Equity change in % | -19.44 | 5.94 | 19.54 | 13.29 | 5.61 | 17.59 | 15.81 |
Balance sheet total | 15,621.00 | 18,496.00 | 18,178.00 | 17,996.00 | 17,564.00 | 17,780.00 | 16,350.00 |
Balance sheet total change in % | -15.54 | 1.75 | 1.01 | 2.46 | -1.21 | 8.75 | 8.20 |
Key Data in USD
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
---|---|---|---|---|---|---|---|
Sales per share | 38.03 | 44.52 | 41.34 | 39.91 | 39.59 | 38.93 | 36.94 |
P/E ratio (year end quote, basic EPS) | 20.28 | 25.53 | 14.85 | 17.16 | 24.71 | 14.91 | 18.75 |
P/E ratio (year end quote, diluted EPS) | 20.28 | 25.53 | 14.85 | 17.16 | 24.71 | 14.91 | 18.75 |
P/E ratio (year end quote) | 20.28 | 25.53 | 14.85 | 17.16 | 24.71 | 14.91 | 18.75 |
Dividend yield in % | 4.19 | 3.28 | 3.59 | 3.66 | 3.27 | 3.84 | 3.12 |
Equity ratio in % | 20.33 | 21.31 | 20.46 | 17.29 | 15.64 | 14.63 | 13.53 |
Debt ratio in % | 78.43 | 76.35 | 76.81 | 79.80 | 81.13 | 82.23 | 86.37 |
Kellogg Dividend Calendar
Date | Name | Dividend | *yield | Currency |
---|---|---|---|---|
2023 | Kellogg Co. | 2.34 | 4.19 | USD |
2022 | Kellogg Co. | 2.34 | 3.28 | USD |
2021 | Kellogg Co. | 2.31 | 3.59 | USD |
2020 | Kellogg Co. | 2.28 | 3.66 | USD |
2019 | Kellogg Co. | 2.26 | 3.27 | USD |
2018 | Kellogg Co. | 2.20 | 3.84 | USD |
2017 | Kellogg Co. | 2.12 | 3.12 | USD |
2016 | Kellogg Co. | 2.04 | 2.77 | USD |
2015 | Kellogg Co. | 1.98 | 2.74 | USD |
2014 | Kellogg Co. | 1.90 | 2.90 | USD |
2013 | Kellogg Co. | 1.80 | 2.95 | USD |
2012 | Kellogg Co. | 1.74 | 3.14 | USD |
2011 | Kellogg Co. | 1.67 | 3.30 | USD |
2010 | Kellogg Co. | 1.56 | 3.05 | USD |
2009 | Kellogg Co. | 1.43 | 2.69 | USD |
2008 | Kellogg Co. | 1.30 | 2.96 | USD |
2007 | Kellogg Co. | 1.20 | 2.29 | USD |
2006 | Kellogg Co. | 1.14 | 2.28 | USD |
2005 | Kellogg Co. | 1.06 | 2.45 | USD |
2004 | Kellogg Co. | 1.01 | 2.26 | USD |
2003 | Kellogg Co. | 1.01 | 2.65 | USD |
2002 | Kellogg Co. | 1.01 | 2.95 | USD |
2001 | Kellogg Co. | 1.01 | 3.36 | USD |
2000 | Kellogg Co. | 1.00 | 3.81 | USD |
1999 | Kellogg Co. | 0.96 | 3.12 | USD |
*Yield of the Respective Date
Kellogg Co. Calendar
Event | Estimate | Info | Date |
---|---|---|---|
Earnings Report | 0.902 USD | Q2 2024 Earnings Release | 08/01/2024 |
Earnings Report | 0.860 USD | Q3 2024 Earnings Release | 10/31/2024 |
Earnings Report | 0.845 USD | Q4 2024 Earnings Release | 02/06/2025 |
Earnings Report | 1.049 USD | Q1 2025 Earnings Release | 05/01/2025 |
Earnings Report | 0.970 USD | Q2 2025 Earnings Release | 07/31/2025 |
Earnings Report | 0.926 USD | Q3 2025 Earnings Release | 10/30/2025 |
Kellogg Co. Past Events
Event | Actual EPS | Info | Date |
---|---|---|---|
Earnings Report | 0.783 USD | Q1 2024 Earnings Release | 05/02/2024 |
Annual General Meeting | - | Annual General Meeting | 04/26/2024 |
Press Conference | - | - | 11/08/2023 |
Press Conference | - | - | 08/03/2023 |
Kellogg Profile
Kellanova engages in the manufacturing, marketing, and distribution of ready-to-eat cereal and convenience foods. It operates through the following segments: North America, Europe, Latin America, and Asia Middle East Africa. The North America segment includes the U. S. businesses and Canada. The Europe segment consists of European countries. The Latin America segment focuses on Central and South America, and Mexico. The Asia Middle East Africa segment is involved in Africa, Middle East, Australia, and Other Asian and Pacific markets.
Moody’s Daily Credit Risk Score
Risk
- Low
- Medium
- High
2
Moody’s Daily Credit Risk Score is a 1-10 score of a company’s credit risk, based on an analysis of the firm’sbalance sheet and inputs from the stock market. The score provides a forward-looking, one-year measure of creditrisk, allowing investors to make better decisions and streamline their work ow. Updated daily, it takes intoaccount day-to-day movements in market value compared to a company’s liability structure.
Kellogg Shareholder
Owner | in % |
---|---|
Freefloat | 84.10 |
W.K. Kellogg Foundation Trust | 14.98 |
The Vanguard Group, Inc. | 9.40 |
Thornburg Capital Management Fund | 9.07 |
Vanguard Group, Inc. (Subfiler) | 8.90 |
KeyBank NA (Cleveland, Ohio) | 5.86 |
KeyBank, NA (Investment Management) | 5.84 |
State Street Corp. | 4.39 |
BlackRock Fund Advisors | 3.71 |
Vanguard Total Stock Market ETF | 2.52 |
Sessa Capital IM LP | 2.04 |
Vanguard 500 Index Fund | 1.98 |
Beutel, Goodman & Co. Ltd. | 1.95 |
BlackRock Institutional Trust Co. NA | 1.94 |
Geode Capital Management LLC | 1.86 |
Shareholder percentage totals can add to more than 100% because some holders are included in the free float.
Kellogg Management
Name | Job |
---|---|
Steven A. Cahillane | Chairman, President & Chief Executive Officer |
Kartik Chandrasekhar | Chief Commercial Officer-Asia |
Lesley Salmon | Chief Digital & Information Officer, SVP |
Charisse Ford Hughes | Chief Growth Officer & Senior Vice President |
Melissa A. Howell | Chief Human Resources Officer & Senior VP |
Juliann M. Bowerman | Chief Marketing & Ecommerce Officer |
Stephanie A. Burns | Independent Director |
La June Montgomery Tabron | Independent Director |
J. Michael Schlotman | Independent Director |
Roderick D. Gillum | Independent Director |
Carter Cast | Independent Director |
Carolyn M. Tastad | Independent Director |
Mary A. Laschinger | Independent Director |
G. Zachary Gund | Independent Director |
Erica L. Mann | Independent Non-Executive Director |
Donald R. Knauss | Lead Independent Director |
Shumit Kapoor | President-AMEA |
John Min | Secretary, Chief Legal Officer & Senior VP |
David Lawlor | Senior Vice President & President-Kellogg Europe |
Víctor Marroquín | Senior Vice President & President-Latin America |
Nicolas Amaya | Senior Vice President & President-North America |
Rodrigo Lance | Senior Vice President-Global Supply Chain |
John Renwick | VP-Investor Relations & Corporate Planning |
Amit Banati | Vice Chairman & Chief Financial Officer |
Kurt D. Forche | Vice President & Controller |
Sherry Brice-Williamson | Vice President-Global Quality & Food Safety |
Joe Mueller | Vice President-Industry & Customer Development |