Kellanova (K) To Go Ex-Dividend on March 3rd

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 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, March 3rd.

Kellanova has decreased its dividend payment by an average of 0.7% per year over the last three years. Kellanova has a payout ratio of 55.2% 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 Trading Up 0.5 %

NYSE K opened at $82.90 on Friday. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.94. The stock has a market cap of $28.62 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.21 and a beta of 0.37. The stock’s fifty day moving average price is $81.77 and its 200-day moving average price is $80.96. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. StockNews.com assumed coverage on Kellanova in a research report on Monday, February 24th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. Thirteen 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 presently has a consensus rating of “Hold” and an average target price of $77.96.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $82.70, for a total value of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares of the company’s stock, valued at $3,956,983,784.20. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $93,461,916. 1.80% of the stock is currently owned by 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.