Kellanova (NYSE:K – Get Free Report) announced its earnings results on Thursday. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16, Briefing.com reports. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. Kellanova updated its FY24 guidance to $3.55-3.65 EPS.
Kellanova Stock Performance
K opened at $60.51 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The business has a fifty day simple moving average of $56.23 and a 200 day simple moving average of $54.59. Kellanova has a 1 year low of $47.63 and a 1 year high of $71.53. The company has a market capitalization of $20.68 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39.
Kellanova Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.70%. Kellanova’s dividend payout ratio (DPR) is currently 83.90%.
Analyst Ratings Changes
Check Out Our Latest Report on K
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 Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the completion of the sale, the insider now owns 52,620,238 shares in the company, valued at approximately $2,824,128,173.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 933,600 shares of company stock worth $51,891,044 in the last 90 days. Company insiders own 1.80% of the company’s stock.
About Kellanova
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.
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