Kellanova (NYSE:K – Get 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
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.
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.
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