Kellanova (NYSE:K – Get Free Report) is scheduled to be releasing its earnings data before the market opens on Wednesday, November 8th. Analysts expect Kellanova to post earnings of $0.94 per share for the quarter. Kellanova has set its FY 2023 guidance at $4.29-$4.34 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.
Kellanova (NYSE:K – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.11 by $0.14. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.05 billion. Kellanova had a net margin of 5.46% and a return on equity of 33.33%. On average, analysts expect Kellanova to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Kellanova Stock Up 0.5 %
K stock opened at $50.47 on Wednesday. The firm has a market cap of $27.86 million, a PE ratio of 20.19, a P/E/G ratio of 2.68 and a beta of 0.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.40 and a current ratio of 0.66. The firm’s fifty day moving average is $55.90 and its 200 day moving average is $63.15. Kellanova has a one year low of $47.63 and a one year high of $77.17.
Kellanova Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.24 annualized dividend and a yield of 4.44%. Kellanova’s dividend payout ratio is presently 96.00%.
Analysts Set New Price Targets
Several research firms recently commented on K. Piper Sandler dropped their price target on shares of Kellanova from $72.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. TheStreet lowered shares of Kellanova from a “b-” rating to a “c+” rating in a research report on Wednesday, October 25th. Barclays dropped their target price on shares of Kellanova from $69.00 to $57.00 and set an “underweight” rating on the stock in a research report on Thursday, October 12th. TD Cowen began coverage on shares of Kellanova in a research report on Wednesday, September 13th. They issued a “market perform” rating and a $63.00 target price on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Kellanova from $70.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $64.64.
Insider Activity
In other news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $61.10, for a total value of $6,110,000.00. Following the sale, the insider now directly owns 54,331,838 shares of the company’s stock, valued at approximately $3,319,675,301.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 100,000 shares of Kellanova stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $61.10, for a total value of $6,110,000.00. Following the completion of the transaction, the insider now owns 54,331,838 shares in the company, valued at $3,319,675,301.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $59.66, for a total transaction of $4,641,548.00. Following the completion of the transaction, the insider now owns 54,176,238 shares of the company’s stock, valued at approximately $3,232,154,359.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 822,400 shares of company stock valued at $46,601,744. Company insiders own 1.40% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in K. BlackRock Inc. raised its position in Kellanova by 1.2% in the 1st quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock valued at $2,122,486,000 after purchasing an additional 369,648 shares during the last quarter. Vanguard Group Inc. raised its position in Kellanova by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after buying an additional 646,828 shares during the last quarter. State Street Corp raised its position in Kellanova by 2.6% during the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after buying an additional 369,620 shares during the last quarter. Geode Capital Management LLC raised its position in Kellanova by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company’s stock worth $378,150,000 after buying an additional 159,028 shares during the last quarter. Finally, Invesco Ltd. raised its position in Kellanova by 6.3% during the 1st quarter. Invesco Ltd. now owns 5,137,164 shares of the company’s stock worth $331,296,000 after buying an additional 302,388 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.
About Kellanova
Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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
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