Kellanova (NYSE:K) to Issue $0.57 Quarterly Dividend

Kellanova (NYSE:K) announced a quarterly dividend on Friday, October 25th, RTT News reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.57 per share on Friday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.82%.

Kellanova has increased its dividend by an average of 0.9% annually over the last three years. Kellanova has a payout ratio of 58.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kellanova to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 58.5%.

Kellanova Stock Down 0.2 %

Shares of Kellanova stock opened at $80.88 on Friday. Kellanova has a one year low of $49.79 and a one year high of $81.26. The company has a market cap of $27.65 billion, a P/E ratio of 30.29, a PEG ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The firm has a fifty day moving average of $80.61 and a two-hundred day moving average of $67.41.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts forecast that Kellanova will post 3.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on K shares. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a research report on Monday, August 5th. StockNews.com started coverage on shares of Kellanova in a research report on Sunday. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.32.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova 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 completion of the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,191,081 shares of company stock worth $93,637,014. 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.