Kellanova (K) Set to Announce Quarterly Earnings on Thursday

Kellanova (NYSE:K) is scheduled to issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.85 per share for the quarter. Kellanova has set its FY24 guidance at $3.65-3.75 EPS and its FY 2024 guidance at 3.650-3.750 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.25 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 Performance

K stock opened at $80.96 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The stock has a market capitalization of $27.68 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a 1 year low of $49.41 and a 1 year high of $81.26. The stock’s fifty day moving average is $80.58 and its two-hundred day moving average is $67.15.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on K. Deutsche Bank Aktiengesellschaft raised their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Stifel Nicolaus lifted their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group assumed coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. Fifteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.32.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated 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 completion of the sale, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated 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 completion of the sale, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing 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 business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,191,081 shares of company stock worth $93,637,014 in the last three months. 1.80% of the stock is owned by insiders.

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.