Kellanova (K) Scheduled to Post Earnings on Thursday

Kellanova (NYSE:K) is set to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

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

Kellanova Stock Up 0.8 %

K stock opened at $58.21 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $19.89 billion, a PE ratio of 21.17, a PEG ratio of 2.21 and a beta of 0.40. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The stock has a 50-day simple moving average of $56.02 and a two-hundred day simple moving average of $54.40.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is presently 81.45%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $58.00, for a total value of $4,512,400.00. Following the completion of the sale, the insider now owns 51,842,238 shares in the company, valued at $3,006,849,804. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 933,600 shares of company stock worth $51,891,044 in the last quarter. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on K shares. JPMorgan Chase & Co. boosted their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Barclays boosted their price objective on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Piper Sandler boosted their price objective on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. DA Davidson started coverage on Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Twelve research 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 currently has an average rating of “Hold” and a consensus target price of $62.27.

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.