Kellanova (NYSE:K) to Issue $0.57 Quarterly Dividend

Kellanova (NYSE:K) declared a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Monday, March 3rd will be paid 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 2.76%.

Kellanova has a dividend payout ratio of 55.3% indicating that 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 NYSE:K opened at $82.63 on Friday. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.72. The company has a market cap of $28.48 billion, a PE ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock’s 50-day moving average is $81.55 and its 200 day moving average is $80.71.

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

Insider Activity at Kellanova

In related 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 transaction, the insider now directly owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on K. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research report on Sunday, February 16th. They set a “hold” rating on the stock. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research 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 MarketBeat.com, the company has a consensus 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.