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

Kellanova (NYSE:K) declared a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.57 per share on Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 2.76%.

Kellanova has a payout ratio of 55.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kellanova to earn $4.06 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 56.2%.

Kellanova Stock Up 0.2 %

Shares of Kellanova stock opened at $82.63 on Friday. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.72. The firm’s 50 day moving average price is $81.55 and its 200-day moving average price is $80.65. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.48 billion, a P/E ratio of 21.35, a PEG ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $80.70, for a total value of $9,246,848.10. Following the completion of the sale, the insider now directly owns 49,107,859 shares in the company, valued at $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 1,145,830 shares of company stock worth $93,291,187. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

K has been the topic of a number of recent research reports. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research report on Tuesday. StockNews.com assumed coverage on shares of Kellanova in a research note on Sunday, February 16th. They issued a “hold” rating on the stock. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.96.

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.