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

Kellanova (NYSE:K) released its earnings results on Thursday. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61, Zacks reports. Kellanova had a net margin of 7.85% and a return on equity of 37.05%.

Kellanova Stock Performance

Shares of K stock traded up $0.19 during trading hours on Thursday, reaching $82.05. The company had a trading volume of 2,401,846 shares, compared to its average volume of 2,296,948. The firm has a market cap of $28.28 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37. The business has a fifty day moving average price of $81.18 and a 200-day moving average price of $78.95. Kellanova has a one year low of $52.46 and a one year high of $82.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Analyst Ratings Changes

A number of analysts recently issued reports on K shares. StockNews.com assumed coverage on Kellanova in a research note on Friday, January 31st. They set a “hold” rating on the stock. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.96.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the completion of the sale, the insider now directly owns 48,305,778 shares of the company’s stock, valued at approximately $3,956,726,275.98. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 1,031,247 shares of company stock valued at $83,724,652. Company insiders own 1.80% of the company’s stock.

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.