Kellanova (NYSE:K) Issues Earnings Results, Beats Expectations By $0.61 EPS

Kellanova (NYSE:K) announced its earnings results on Thursday. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61, Zacks reports. Kellanova had a return on equity of 37.05% and a net margin of 7.85%.

Kellanova Stock Up 0.2 %

Shares of NYSE:K traded up $0.19 during trading hours on Thursday, hitting $82.05. The company’s stock had a trading volume of 2,401,846 shares, compared to its average volume of 2,296,948. The firm’s fifty day moving average price is $81.18 and its 200 day moving average price is $78.95. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.16. The company has a market capitalization of $28.28 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 2.51 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the sale, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,724,652 over the last ninety days. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

K has been the subject of a number of recent analyst reports. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. StockNews.com assumed coverage on shares of Kellanova in a research note on Friday, January 31st. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Company Profile

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.