Kellanova (NYSE:K) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Kellanova (NYSE:KGet Free Report) issued its quarterly earnings results on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06, Briefing.com reports. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis.

Kellanova Stock Performance

K traded down $0.04 on Friday, hitting $80.61. The company had a trading volume of 3,773,971 shares, compared to its average volume of 3,081,676. The stock has a market cap of $27.78 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The company’s fifty day moving average price is $80.63 and its 200 day moving average price is $68.18. Kellanova has a 1-year low of $50.81 and a 1-year high of $81.26.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is currently 86.36%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the sale, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. 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. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,227,864 shares of company stock valued at $98,438,243 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

K has been the topic of several recent research reports. Wells Fargo & Company lifted 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. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Stifel Nicolaus increased their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, Evercore ISI upgraded Kellanova to a “hold” rating in a report on Friday, August 2nd. Sixteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.96.

View Our Latest Report on K

About Kellanova

(Get Free Report)

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.

Further Reading

Earnings History for Kellanova (NYSE:K)

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