Kellanova (K) Set to Announce Quarterly Earnings on Thursday

Kellanova (NYSE:K) is scheduled to be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect Kellanova to post 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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 Price Performance

Kellanova 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. Kellanova has a 52 week low of $49.41 and a 52 week high of $81.26. The firm has a market cap of $27.68 billion, a P/E ratio of 30.32, a P/E/G ratio of 2.59 and a beta of 0.39. The business’s fifty day moving average is $80.58 and its two-hundred day moving average is $67.15.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is 85.39%.

Analyst Ratings Changes

K has been the topic of several research reports. StockNews.com initiated coverage on Kellanova in a research note on Saturday, October 19th. They set a “hold” rating on the stock. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a research note on Monday, August 5th. Piper Sandler upped their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group began coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. Fifteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.32.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated 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 $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 1,191,081 shares of company stock worth $93,637,014 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

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.