Tag: 48783610

Kellanova (NYSE:K – Get Free Report) will be posting its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Kellanova to post earnings of $0.85 per share for the quarter. Kellanova has set its FY24 guidance at $3.65-3.75 EPS and its FY 2024 guidance at 3.650-3.750 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Kellanova (NYSE:K – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. On average, analysts expect Kellanova to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Kellanova Stock Performance

K opened at $80.60 on Tuesday. The firm has a market capitalization of $27.56 billion, a PE ratio of 30.19, a PEG ratio of 2.60 and a beta of 0.39. Kellanova has a twelve month low of $49.79 and a twelve month high of $81.26. The firm’s 50-day moving average price is $80.62 and its 200 day moving average price is $67.65. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s payout ratio is 85.39%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the transaction, the insider now owns 50,830,838 shares in the company, valued at approximately $3,761,990,320.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the transaction, the insider now owns 50,830,838 shares in the company, valued at approximately $3,761,990,320.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,227,864 shares of company stock worth $98,438,243. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the topic of several recent analyst reports. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $74.32.

Get Our Latest Analysis 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.

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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.

View Our Latest Report on K

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

(Get Free Report)

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.

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