Kellanova (NYSE:K) Announces Quarterly Dividend of $0.58

Kellanova (NYSE:K) declared a quarterly dividend on Friday, October 24th. Shareholders of record on Monday, December 1st will be given a dividend of 0.58 per share on Monday, December 15th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, December 1st.

Kellanova has a payout ratio of 58.4% 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 $2.32 annual dividend with an expected future payout ratio of 57.1%.

Kellanova Stock Up 0.2%

Shares of K stock traded up $0.21 during trading hours on Friday, reaching $83.81. The company had a trading volume of 1,375,616 shares, compared to its average volume of 2,902,066. The company has a market capitalization of $29.16 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.65. The stock’s fifty day simple moving average is $82.49 and its 200 day simple moving average is $80.99.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the business earned $0.91 EPS. Kellanova’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent analyst reports. Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. started coverage on shares of Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. Finally, Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.50.

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.