Market Update: Kellogg Company (NYSE:K) – Kellogg Company Declares Regular Dividend of $0.50 per Share and Announces Plans for 4% Dividend Increase

[PR Newswire] – BATTLE CREEK, Mich., April 29, 2016 /PRNewswire/ — Kellogg Company ( NYSE:K ) today announced that its Board of Directors declared a dividend of $0.50 per share on the common stock of the Company, payable on June 15, 2016, to shareowners of record at the close of business on June 1, 2016. The ex-dividend date is May 27, 2016. This is the 366th dividend that Kellogg Company has paid to owners of common stock since 1925. At Kellogg Company ( NYSE:K ), we are driven to enrich and delight the world through foods and brands that matter. Read more on this. Kellogg Company (K) , currently valued at $26.89B, began trading this morning at $76.41. A quick look at the market, the company’s stock traded between $76.06 and $76.80 with its 52-week range being $61.13 to $78.10. K shares are currently priced at 20.67x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.06x earnings multiple. And for passive income investors, the company pays shareholders $2.00 per share annually in dividends, yielding 2.66%. According to a consensus of 17 analysts, the earnings estimate of $0.94 per share would be $0.04 worse than the year-ago quarter and a $0.05 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.70, which would be a $0.17 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.47 Billion. If reported, that would be a 2.25% decrease over the year-ago quarter. Recently, Goldman upgraded K from Sell to Neutral (Mar 16, 2016). Previously, Credit Agricole upgraded K from Underperform to Outperform. Investors should keep in mind is that the average price target is $77.94, which is 2.00% above where the stock opened this morning. See more in (NYSE:K) Similar Articles: Market Update: Kellogg Company (NYSE:K) – Kellogg Company 2016 First Quarter Results Conference Call / Webcast Stock Update: Kellogg Company (NYSE:K) – Kellogg Company to Webcast Presentation at 2016 CAGNY Conference Market Update: Kellogg Company (NYSE:K) – Kellogg Company 2015 Full-Year & Fourth Quarter Results Conference Call / Webcast
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