Kellanova (K) to Issue Quarterly Dividend of $0.57 on March 14th

Kellanova (NYSE:K) declared a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Monday, March 3rd will be given a dividend of 0.57 per share on Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 2.76%.

Kellanova has a dividend payout ratio of 55.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kellanova to earn $4.06 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 56.2%.

Kellanova Trading Up 0.2 %

NYSE:K opened at $82.63 on Friday. The company has a market cap of $28.48 billion, a P/E ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37. The stock’s fifty day moving average price is $81.55 and its two-hundred day moving average price is $80.71. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.72. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, analysts expect that Kellanova will post 3.93 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a report on Sunday, February 16th. They issued a “hold” rating on the stock. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average price target of $77.96.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $80.70, for a total value of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,145,830 shares of company stock worth $93,291,187 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.