DA Davidson Issues Optimistic Outlook for Kellanova Earnings

Kellanova (NYSE:K) – Investment analysts at DA Davidson increased their FY2024 earnings estimates for shares of Kellanova in a note issued to investors on Friday, November 1st. DA Davidson analyst B. Holland now forecasts that the company will post earnings per share of $3.78 for the year, up from their previous estimate of $3.70. DA Davidson currently has a “Neutral” rating and a $83.50 target price on the stock. The consensus estimate for Kellanova’s current full-year earnings is $3.71 per share. DA Davidson also issued estimates for Kellanova’s Q4 2024 earnings at $0.83 EPS and FY2025 earnings at $4.11 EPS.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday. Barclays upped their target price on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Sixteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average target price of $74.96.

Kellanova Trading Down 0.0 %

K opened at $80.60 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s 50 day moving average is $80.63 and its 200-day moving average is $68.53. The firm has a market capitalization of $27.78 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.58 and a beta of 0.39. Kellanova has a 52-week low of $50.81 and a 52-week high of $81.26.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share.

Institutional Trading of Kellanova

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the period. MCF Advisors LLC grew its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. S.A. Mason LLC lifted its position in Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the transaction, the insider now directly owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,227,864 shares of company stock worth $98,438,243 over the last three months. Company insiders own 1.80% of the company’s stock.

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 issued a $0.57 dividend. 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 payout ratio is 78.35%.

Kellanova Company Profile

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.