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

Kellanova (NYSE:K) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders 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 payout ratio of 55.3% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NYSE K opened at $82.63 on Friday. The company has a market cap of $28.48 billion, a P/E ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.72. 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 has a 50-day moving average of $81.55 and a two-hundred day moving average of $80.65.

Kellanova (NYSE:K) last announced 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 return on equity of 37.25% and a net margin of 10.53%. As a group, analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on K shares. StockNews.com began coverage on shares of Kellanova in a research report on Sunday, February 16th. They issued a “hold” rating on the stock. Royal Bank of Canada raised 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. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average target price of $77.96.

Insider Buying and Selling at Kellanova

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