Kellogg (K) Declares $0.59 Dividend

Kellogg said on April 28, 2023 that its board of directors declared a regular quarterly dividend of $0.59 per share ($2.36 annualized). Previously, the company paid $0.59 per share.

Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.

At the current share price of $69.77 / share, the stock's dividend yield is 3.38%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.54%, the lowest has been 3.00%, and the highest has been 4.26%. The standard deviation of yields is 0.26 (n=236).

The current dividend yield is 0.62 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.84. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1693 funds or institutions reporting positions in Kellogg. This is an increase of 62 owner(s) or 3.80% in the last quarter. Average portfolio weight of all funds dedicated to K is 0.23%, a decrease of 19.45%. Total shares owned by institutions increased in the last three months by 1.46% to 312,533K shares. The put/call ratio of K is 0.79, indicating a bullish outlook.

Analyst Price Forecast Suggests 5.69% Upside

As of April 24, 2023, the average one-year price target for Kellogg is 73.74. The forecasts range from a low of 62.62 to a high of $86.10. The average price target represents an increase of 5.69% from its latest reported closing price of 69.77.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Kellogg is 15,767MM, an increase of 2.95%. The projected annual non-GAAP EPS is 4.24.

What are Other Shareholders Doing?

Kellogg W K Foundation Trust holds 55,932K shares representing 16.32% ownership of the company. In it's prior filing, the firm reported owning 56,532K shares, representing a decrease of 1.07%. The firm decreased its portfolio allocation in K by 99.90% over the last quarter.

Keybank National Association holds 20,797K shares representing 6.07% ownership of the company. In it's prior filing, the firm reported owning 20,846K shares, representing a decrease of 0.24%. The firm decreased its portfolio allocation in K by 30.30% over the last quarter.

Wellington Management Group Llp holds 12,421K shares representing 3.62% ownership of the company. In it's prior filing, the firm reported owning 12,154K shares, representing an increase of 2.15%. The firm decreased its portfolio allocation in K by 1.61% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,776K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 7,618K shares, representing an increase of 2.02%. The firm decreased its portfolio allocation in K by 3.61% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,962K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 5,866K shares, representing an increase of 1.61%. The firm decreased its portfolio allocation in K by 4.53% over the last quarter.

Kellogg Background Information
(This description is provided by the company.)

Kellogg Company strives to enrich and delight the world through foods and brands that matter. Company's beloved brands include Pringles®, Cheez-It®, Special K®, Kellogg's Frosted Flakes®, Pop-Tarts®, Kellogg's Corn Flakes®, Rice Krispies®, Eggo®, Mini-Wheats®, Kashi®,RXBAR®, MorningStar Farms® and more. Net sales in 2019 were approximately $13.6 billion, comprised principally of snacks and convenience foods like cereal and frozen foods. Kellogg brands are beloved in markets around the world. Kellogg is also a company with Heart & Soul, committed to creating Better Days for 3 billion people by the end of 2030 through our Kellogg's® Better Days global purpose platform.

This story originally appeared on Fintel.