DA Davidson Has Optimistic View of Kellanova FY2024 Earnings

Kellanova (NYSE:K) – DA Davidson upped their FY2024 earnings per share (EPS) estimates for Kellanova in a research report issued on Friday, November 1st. DA Davidson analyst B. Holland now expects that the company will earn $3.78 per share for the year, up from their previous forecast of $3.70. DA Davidson currently has a “Neutral” rating and a $83.50 target price on the stock. The consensus estimate for Kellanova’s current full-year earnings is $3.71 per share. DA Davidson also issued estimates for Kellanova’s Q4 2024 earnings at $0.83 EPS and FY2025 earnings at $4.11 EPS.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Evercore ISI raised Kellanova to a “hold” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Finally, The Goldman Sachs Group assumed coverage on Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Sixteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.96.

Kellanova Trading Down 0.0 %

NYSE:K opened at $80.61 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.48 and a current ratio of 0.77. The company has a market capitalization of $27.78 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.58 and a beta of 0.39. Kellanova has a 52 week low of $50.81 and a 52 week high of $81.26. The stock’s 50 day moving average price is $80.63 and its 200 day moving average price is $68.36.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the transaction, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,227,864 shares of company stock valued at $98,438,243. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Kellanova

A number of institutional investors and hedge funds have recently bought and sold shares of K. Assetmark Inc. increased its stake in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Kellanova in the third quarter valued at $55,000. Valley Brook Capital Group Inc. purchased a new position in shares of Kellanova during the third quarter valued at approximately $230,000. Olympiad Research LP purchased a new position in Kellanova during the third quarter worth about $2,006,000. Finally, Principal Financial Group Inc. increased its position in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Institutional investors and hedge funds own 83.87% 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.