Kellanova (K) Scheduled to Post Quarterly Earnings on Thursday

Kellanova (NYSE:K) is scheduled to be releasing its earnings data before the market opens on Thursday, May 2nd. Analysts expect Kellanova to post earnings of $0.84 per share for the quarter. Kellanova has set its FY24 guidance at $3.55-3.65 EPS and its FY 2024 guidance at 3.550-3.650 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $0.94 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 Down 0.6 %

Shares of K stock opened at $57.86 on Wednesday. The stock has a market cap of $19.77 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.21 and a beta of 0.40. Kellanova has a one year low of $47.63 and a one year high of $72.30. The stock has a fifty day moving average price of $56.05 and a 200 day moving average price of $54.45. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.87%. Kellanova’s dividend payout ratio is presently 81.45%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on K. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Barclays boosted their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. DA Davidson began coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. Piper Sandler boosted their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Citigroup assumed coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.27.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $58.00, for a total transaction of $4,512,400.00. Following the transaction, the insider now directly owns 51,842,238 shares in the company, valued at approximately $3,006,849,804. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 933,600 shares of company stock worth $51,891,044. Company insiders own 1.80% of the company’s stock.

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.