Kellanova (NYSE:K) Issues FY 2024 Earnings Guidance

Kellanova (NYSE:K - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.550-3.650 for the period, compared to the consensus EPS estimate of 3.570. The company issued revenue guidance of -.

Kellanova Trading Down 1.3 %

NYSE:K traded down $0.79 during trading hours on Friday, reaching $60.49. The company's stock had a trading volume of 4,363,737 shares, compared to its average volume of 3,257,050. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.18 and a beta of 0.39. The firm has a 50-day simple moving average of $56.15 and a 200-day simple moving average of $54.52. Kellanova has a 1 year low of $47.63 and a 1 year high of $71.53.

Kellanova (NYSE:K - Get Free Report) last announced 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 business had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 EPS. Research analysts expect that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova's dividend payout ratio is presently 81.45%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of research reports. Piper Sandler lifted their price objective on Kellanova from $59.00 to $60.00 and gave the stock a neutral rating in a research note on Monday, February 12th. StockNews.com downgraded Kellanova from a buy rating to a hold rating in a report on Friday, February 9th. Stifel Nicolaus raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a hold rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $59.00 to $66.00 and gave the company a neutral rating in a report on Friday. Finally, DA Davidson assumed coverage on shares of Kellanova in a report on Friday, March 1st. They set a buy rating and a $67.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $62.67.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the transaction, the insider now owns 52,620,238 shares in the company, valued at approximately $2,824,128,173.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 933,600 shares of company stock worth $51,891,044 over the last three months. Corporate 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.