Kellanova (NYSE:K) Plans Quarterly Dividend of $0.57

Kellanova (NYSE:K) announced a quarterly dividend on Friday, July 26th, RTT News reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of 0.57 per share on Friday, September 13th. This represents a $2.28 dividend on an annualized basis and a yield of 3.98%. This is an increase from Kellanova’s previous quarterly dividend of $0.56.

Kellanova has increased its dividend by an average of 0.9% per year over the last three years. Kellanova has a payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kellanova to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 58.6%.

Kellanova Trading Up 0.1 %

Shares of Kellanova stock traded up $0.06 on Friday, reaching $57.34. 781,084 shares of the company’s stock were exchanged, compared to its average volume of 2,771,354. The firm’s 50-day moving average is $58.54 and its two-hundred day moving average is $57.08. The company has a market capitalization of $19.60 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 2.08 and a beta of 0.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. Kellanova has a 52 week low of $47.63 and a 52 week high of $67.81.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. Sell-side analysts predict that Kellanova will post 3.61 EPS for the current fiscal year.

Analyst Ratings Changes

K has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Kellanova from $62.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday. DA Davidson boosted their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Bank of America dropped their price target on shares of Kellanova from $64.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays decreased their price target on Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average price target of $61.50.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the transaction, the insider now owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The transaction was disclosed in a document filed 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 the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the sale, the insider now owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 865,600 shares of company stock valued at $50,897,082. 1.80% of the stock is currently owned by company insiders.

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.