Kellanova (NYSE:K) Declares Quarterly Dividend of $0.57

Kellanova (NYSE:K) declared a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.57 per share on Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%.

Kellanova has decreased its dividend by an average of 0.7% per year over the last three years. Kellanova has a payout ratio of 55.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kellanova to earn $4.06 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 56.2%.

Kellanova Trading Up 0.1 %

Kellanova stock traded up $0.12 during mid-day trading on Friday, hitting $82.57. The stock had a trading volume of 1,135,437 shares, compared to its average volume of 2,336,810. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.60. The stock has a 50-day simple moving average of $81.51 and a two-hundred day simple moving average of $80.64. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.46 billion, a PE ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, sell-side analysts forecast that Kellanova will post 3.93 EPS for the current year.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $80.70, for a total value of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares in the company, valued at $3,963,004,221.30. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 1,145,830 shares of company stock valued at $93,291,187. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the topic of a number of analyst reports. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Finally, StockNews.com began coverage on Kellanova in a research report on Sunday, February 16th. They issued a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.96.

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.