Kellanova (NYSE:K) Releases Quarterly Earnings Results, Beats Expectations By $0.61 EPS

Kellanova (NYSE:K) posted its quarterly earnings results on Thursday. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61, Zacks reports. Kellanova had a net margin of 10.53% and a return on equity of 37.25%.

Kellanova Stock Up 0.2 %

Shares of Kellanova stock opened at $82.29 on Friday. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The business’s 50 day simple moving average is $81.20 and its 200 day simple moving average is $78.97. The firm has a market cap of $28.37 billion, a PE ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.37.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on K shares. StockNews.com started coverage on Kellanova in a research note on Saturday. They set a “hold” rating for the company. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the sale, the insider now owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,031,247 shares of company stock worth $83,724,652 over the last ninety days. Insiders own 1.80% of the company’s stock.

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.