Kellanova (K) Scheduled to Post Earnings on Thursday

Kellanova (NYSE:K) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Kellanova to post earnings of $0.85 per share for the quarter. Kellanova has set its FY24 guidance at $3.65-3.75 EPS and its FY 2024 guidance at 3.650-3.750 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, analysts expect Kellanova to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Kellanova Stock Down 0.0 %

Shares of Kellanova stock opened at $80.56 on Wednesday. The company has a market cap of $27.54 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The company’s 50 day moving average is $80.62 and its 200 day moving average is $67.82. Kellanova has a twelve month low of $49.79 and a twelve month high of $81.26. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on K shares. Barclays increased their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com started coverage on shares of Kellanova in a research note on Sunday. They issued a “hold” rating for the company. Wells Fargo & Company increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, Evercore ISI raised shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $74.32.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,227,864 shares of company stock worth $98,438,243 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

About Kellanova

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and 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.