Kellanova (K) to Distribute Quarterly Dividend of $0.57 on December 13th

Kellanova (NYSE:K) declared a quarterly dividend on Friday, October 25th, RTT News reports. Stockholders 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 dividend 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 payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.2 %

NYSE K opened at $80.88 on Friday. Kellanova has a 12 month low of $49.79 and a 12 month high of $81.26. The stock has a market capitalization of $27.65 billion, a P/E ratio of 30.29, a PEG ratio of 2.60 and a beta of 0.39. The firm’s 50-day moving average is $80.61 and its two-hundred day moving average is $67.41. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48.

Kellanova (NYSE:K) last posted its quarterly earnings data 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 net margin of 6.72% and a return on equity of 36.74%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company posted $1.25 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $83.50 in a report on Monday, August 26th. Stifel Nicolaus increased their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.32.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total value of $5,757,978.00. Following the transaction, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 shares were sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the sale, the insider now directly owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,191,081 shares of company stock valued at $93,637,014. 1.80% of the stock is currently owned by corporate insiders.

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.