DA Davidson Issues Positive Estimate for Kellanova Earnings

Kellanova (NYSE:K - Free Report) - Investment analysts at DA Davidson boosted their FY2024 EPS estimates for shares of Kellanova in a research note issued to investors on Friday, November 1st. DA Davidson analyst B. Holland now expects that the company will earn $3.78 per share for the year, up from their previous estimate of $3.70. DA Davidson has a "Neutral" rating and a $83.50 price target on the stock. The consensus estimate for Kellanova's current full-year earnings is $3.71 per share. DA Davidson also issued estimates for Kellanova's Q4 2024 earnings at $0.83 EPS and FY2025 earnings at $4.11 EPS.

Other research analysts have also issued reports about the stock. Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and raised their target price for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a research note on Monday, August 12th. Barclays lifted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 15th. Wells Fargo & Company lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an "equal weight" rating in a research note on Thursday, August 15th. Finally, StockNews.com began coverage on shares of Kellanova in a research note on Monday. They set a "hold" rating for the company. Sixteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has an average rating of "Hold" and a consensus price target of $74.96.

Kellanova Price Performance

K traded down $0.01 during trading on Monday, reaching $80.60. 1,858,076 shares of the company traded hands, compared to its average volume of 3,075,931. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.48 and a current ratio of 0.77. Kellanova has a 12-month low of $50.81 and a 12-month high of $81.26. The firm has a fifty day simple moving average of $80.63 and a 200 day simple moving average of $68.36. The company has a market cap of $27.78 billion, a P/E ratio of 27.70, a PEG ratio of 2.58 and a beta of 0.39.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm posted $1.03 EPS. The company's revenue was down .7% on a year-over-year basis.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC purchased a new stake in Kellanova in the 3rd quarter worth approximately $1,815,000. Ashton Thomas Securities LLC acquired a new position in shares of Kellanova during the 3rd quarter worth approximately $78,000. Assetmark Inc. raised its stake in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock worth $51,000 after buying an additional 131 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Kellanova during the 3rd quarter worth approximately $55,000. Finally, Valley Brook Capital Group Inc. acquired a new position in shares of Kellanova during the 3rd quarter worth approximately $230,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,227,864 shares of company stock worth $98,438,243 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova's dividend payout ratio (DPR) is currently 78.35%.

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.