Kellanova (K) to Release Earnings on Thursday

Kellanova (NYSE:K) will be posting its quarterly earnings results 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the firm posted $0.94 EPS. The company’s revenue was up .3% on a year-over-year basis. On average, analysts expect Kellanova to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Kellanova Trading Up 1.0 %

Shares of K opened at $58.75 on Thursday. The company has a 50 day simple moving average of $55.85 and a two-hundred day simple moving average of $54.19. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The firm has a market cap of $20.08 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.40.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on K shares. Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. Piper Sandler lifted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Barclays lifted their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Twelve research 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.27.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the completion of the sale, the insider now directly owns 51,920,038 shares in the company, valued at $2,998,901,394.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 933,600 shares of company stock worth $51,632,748. 1.80% of the stock is currently 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.