Kellanova (NYSE:K) Releases Quarterly Earnings Results, Beats Estimates By $0.61 EPS

Kellanova (NYSE:K) announced its quarterly earnings results on Thursday. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61, Zacks reports. Kellanova had a return on equity of 37.05% and a net margin of 7.85%.

Kellanova Stock Performance

K stock traded up $0.19 during midday trading on Thursday, hitting $82.05. The company’s stock had a trading volume of 2,401,846 shares, compared to its average volume of 2,296,948. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.16. The stock has a market cap of $28.28 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.51 and a beta of 0.37. The stock’s 50-day moving average price is $81.18 and its 200 day moving average price is $78.95. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Analyst Upgrades and Downgrades

K has been the subject of a number of research reports. StockNews.com assumed coverage on shares of Kellanova in a report on Friday, January 31st. They issued a “hold” rating for the company. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total value of $9,385,493.53. Following the completion of the sale, the insider now owns 48,305,778 shares of the company’s stock, valued at approximately $3,956,726,275.98. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,031,247 shares of company stock worth $83,724,652 in the last ninety days. Company 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.