Kellanova (K) Scheduled to Post Quarterly Earnings on Thursday

Kellanova (NYSE:K) will issue its quarterly earnings data 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.Parties that wish to register for the company’s conference call can do so using this link.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business 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 Down 0.6 %

Shares of NYSE:K opened at $57.86 on Wednesday. The stock has a market cap of $19.77 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.21 and a beta of 0.40. The firm has a fifty day moving average price of $56.05 and a 200 day moving average price of $54.45. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio is currently 81.45%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup assumed coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson began coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Piper Sandler increased their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.27.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $58.00, for a total value of $4,512,400.00. Following the sale, the insider now directly owns 51,842,238 shares of the company’s stock, valued at $3,006,849,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 933,600 shares of company stock valued at $51,891,044. 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.