Kellanova (NYSE:K) Updates FY24 Earnings Guidance

Kellanova (NYSE:KGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.55-3.65 for the period, compared to the consensus estimate of $3.60. Kellanova also updated its FY 2024 guidance to 3.550-3.650 EPS.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TheStreet downgraded Kellanova from a b- rating to a c+ rating in a research report on Wednesday, October 25th. JPMorgan Chase & Co. raised their target price on Kellanova from $53.00 to $59.00 and gave the company a neutral rating in a research report on Friday. Morgan Stanley decreased their target price on Kellanova from $68.00 to $57.00 and set an equal weight rating on the stock in a research report on Thursday, November 9th. StockNews.com downgraded Kellanova from a buy rating to a hold rating in a research report on Friday. Finally, Stifel Nicolaus raised their target price on Kellanova from $56.00 to $58.00 and gave the company a hold rating in a research report on Thursday, January 25th. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $61.36.

View Our Latest Stock Report on K

Kellanova Trading Down 2.6 %

Shares of NYSE K opened at $53.49 on Friday. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.51 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $54.79 and a 200-day simple moving average of $56.10. The stock has a market capitalization of $18.32 billion, a PE ratio of 19.45, a PEG ratio of 2.13 and a beta of 0.39.

Kellanova (NYSE:KGet Free Report) last released its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the firm posted $0.94 EPS. Kellanova’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts forecast that Kellanova will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $53.89, for a total transaction of $4,192,642.00. Following the completion of the sale, the insider now directly owns 53,320,438 shares of the company’s stock, valued at approximately $2,873,438,403.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 700,200 shares of company stock valued at $37,956,286 in the last ninety days. Insiders own 1.40% of the company’s stock.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quilter Plc acquired a new position in Kellanova during the 1st quarter worth approximately $498,486,000. Compass Wealth Management LLC acquired a new position in Kellanova during the 4th quarter worth approximately $45,000. Tyler Stone Wealth Management acquired a new position in Kellanova during the 2nd quarter worth approximately $45,000. Parkside Financial Bank & Trust increased its position in Kellanova by 168.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,216 shares of the company’s stock worth $82,000 after purchasing an additional 763 shares during the period. Finally, Federated Hermes Inc. acquired a new position in Kellanova during the 1st quarter worth approximately $98,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

About Kellanova

(Get Free Report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.

See Also

Earnings History and Estimates for Kellanova (NYSE:K)

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