Kellanova (K) to Issue Quarterly Dividend of $0.57 on June 13th

Kellanova (NYSE:K) declared a quarterly dividend on Friday, April 25th, RTT News reports. Investors of record on Monday, June 2nd will be paid a dividend of 0.57 per share on Friday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.76%.

Kellanova has decreased its dividend by an average of 0.7% annually over the last three years. Kellanova has a payout ratio of 55.6% 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 Price Performance

NYSE:K opened at $82.59 on Friday. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The company’s 50-day moving average is $82.39 and its two-hundred day moving average is $81.59. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 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%. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the sale, the insider now directly owns 47,045,365 shares in the company, valued at approximately $3,869,951,724.90. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,737,719. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com started coverage on Kellanova in a research note on Monday, April 21st. They set a “buy” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock 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.