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

Kellanova (NYSE:K) declared a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Monday, March 3rd will be given 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 payment by an average of 0.7% annually over the last three years. Kellanova has a payout ratio of 55.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.1 %

Shares of Kellanova stock traded up $0.12 during midday trading on Friday, hitting $82.57. The company had a trading volume of 1,135,437 shares, compared to its average volume of 2,336,810. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market capitalization of $28.46 billion, a P/E ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.37. The company has a 50 day moving average of $81.51 and a 200 day moving average of $80.64. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.60.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the transaction, the insider now directly owns 48,076,612 shares of the company’s stock, valued at approximately $3,954,301,337. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,145,830 shares of company stock valued at $93,291,187 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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