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

Kellanova (NYSE:K) announced its quarterly earnings data 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 net margin of 7.85% and a return on equity of 37.05%.

Kellanova Trading Up 0.1 %

Shares of K stock traded up $0.11 during trading hours on Friday, hitting $82.24. 561,167 shares of the company were exchanged, compared to its average volume of 2,264,995. The company has a 50 day simple moving average of $81.20 and a two-hundred day simple moving average of $78.97. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.31. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm has a market cap of $28.35 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.51 and a beta of 0.37.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 1,031,247 shares of company stock valued at $83,724,652. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. StockNews.com started coverage on shares of Kellanova in a research report on Friday, January 31st. They issued a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.