Kellanova (K) to Release Earnings on Thursday

Kellanova (NYSE:K) is scheduled 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.Investors interested in registering for the company’s conference call can do so using this link.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $3.17 billion for 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%. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company 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 Price Performance

K stock opened at $58.75 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The firm has a market capitalization of $20.08 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.22 and a beta of 0.40. The business’s 50-day moving average is $55.85 and its two-hundred day moving average is $54.19. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

Insider Activity

In other 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 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the transaction, the insider now owns 51,920,038 shares of the company’s stock, valued at $2,998,901,394.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 933,600 shares of company stock valued at $51,632,748. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on K shares. Stifel Nicolaus increased their price target on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Citigroup started coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. DA Davidson started coverage on Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 target price on the stock. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Barclays raised their target price on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average 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.