Kellanova (K) To Go Ex-Dividend on December 2nd

Kellanova (NYSE:K) declared a quarterly dividend on Friday, October 25th,RTT News reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.57 per share on Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd.

Kellanova has raised its dividend by an average of 0.9% annually over the last three years. Kellanova has a dividend payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kellanova to earn $3.92 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 58.2%.

Kellanova Stock Performance

Shares of K stock opened at $81.30 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The business’s fifty day simple moving average is $80.82 and its 200-day simple moving average is $71.26. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34. The company has a market cap of $28.02 billion, a PE ratio of 27.94, a PEG ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm earned $1.03 EPS. The firm’s revenue was down .7% on a year-over-year basis. Analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,145,830 shares of company stock valued at $92,516,606 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on K. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Wells Fargo & Company upped their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Finally, Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.35.

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.