Kellanova (NYSE:K) Announces Dividend Increase – $0.57 Per Share

Kellanova (NYSE:K) declared a quarterly dividend on Friday, July 26th, RTT News reports. Investors of record on Tuesday, September 3rd will be paid a dividend of 0.57 per share on Friday, September 13th. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56.

Kellanova has increased its dividend by an average of 0.9% per year over the last three years. Kellanova has a payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Kellanova to earn $3.90 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 58.5%.

Kellanova Trading Up 0.1 %

Kellanova stock opened at $80.61 on Monday. The company has a market cap of $27.56 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.59 and a beta of 0.34. The firm has a 50-day moving average of $65.84 and a 200-day moving average of $60.61. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a one year low of $47.63 and a one year high of $80.97.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping 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 business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. On average, equities analysts expect that Kellanova will post 3.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

K has been the topic of a number of research reports. Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a research report on Monday, August 5th. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus upped their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Fourteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.32.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $57.71, for a total transaction of $4,489,838.00. Following the completion of the transaction, the insider now directly owns 51,297,638 shares of the company’s stock, valued at approximately $2,960,386,688.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 855,800 shares of company stock worth $55,663,566. Insiders own 1.80% of the company’s stock.

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.