Kellanova (NYSE:K) Plans $0.57 Quarterly Dividend

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

Kellanova has raised its dividend by an average of 0.9% per year over the last three years. Kellanova has a dividend payout ratio of 58.5% indicating that its dividend is sufficiently covered by earnings. 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 %

Kellanova stock opened at $80.88 on Friday. The company has a market capitalization of $27.88 billion, a P/E ratio of 30.64, a P/E/G ratio of 2.60 and a beta of 0.39. Kellanova has a 1-year low of $49.79 and a 1-year high of $81.26. The firm’s fifty day simple moving average is $80.60 and its 200-day simple moving average is $67.25. 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 (NYSE:K) last announced 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. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. Sell-side analysts forecast that Kellanova will post 3.7 earnings per share for the current fiscal year.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the sale, the insider now directly owns 50,830,838 shares of the company’s stock, valued at approximately $3,761,990,320.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the transaction, the insider now directly owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,191,081 shares of company stock valued at $93,637,014. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Piper Sandler upped their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. StockNews.com initiated coverage on Kellanova in a research report on Saturday, October 19th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group began coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $74.32.

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.