Kellanova (NYSE:K) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Kellanova (NYSE:K) released its quarterly earnings data on Thursday. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06, Briefing.com reports. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share.

Kellanova Stock Performance

Shares of NYSE:K traded up $0.07 during trading on Friday, reaching $80.72. The company had a trading volume of 2,864,725 shares, compared to its average volume of 3,077,387. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The stock’s fifty day moving average price is $80.63 and its 200 day moving average price is $68.09. Kellanova has a fifty-two week low of $50.81 and a fifty-two week high of $81.26. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s payout ratio is 86.36%.

Wall Street Analyst Weigh In

A number of research firms have commented on K. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday. Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Sixteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus price target of $74.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction 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 in the company, 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. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. 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. Company 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.